Freefall of cape size bulker prices

Sales prices for two modern cape-size bulkers shows the recent freefall in bulker values. Cape size bulker M/V Spring Zephyr 180,000 DWT (built 2010) was sold to Carval for $21m. Another modern cape size bulker M/V Golden Hope 176,000 DWT (built 2009) has been sold to expanding Singapore owner Winning Shipping for $19.3m. Sale and Purchase (S&P) Brokers say the capesize sales signal that something of a floor may have been reached on prices for this category.