With a falling tanker market in addition to the holiday season, one would expect activity to slow down substantially. This was however not the case this month. Several large en bloc deals have contributed to a moderate sales volume.
We see more interest in modern tonnage and less for single hulls and owners of such tonnage are likely to struggle obtaining prices close to last done.
The sales activity is further reduced from last month and thenumber of concluded sales is actually the lowest since the summer of 2005. Whereas the holiday season is certainly a reason for the low activity we believe that many buyers are likely to await a clear direction of the market before spending their money on a big scale. The drastic reductio.n in freight rates has also had a negative effect on the values, but with the limited number of deals doneit is rather difficult to quantify the impact so far.
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