Activity in the secondhand bulker market has surged in the opening days of July, with owners pushing hard to finalise sales ahead of the summer holidays.

Despite persistent weakness in dry cargo charter rates, there’s been a notable uptick in transactions, particularly in the capesize segment, as first-tier owners move decisively to close deals.

Shipbrokers are reporting a flurry of activity, with an increased focus on older tonnage. This marks a shift from recent weeks, where buyers were active across both eco and non-eco ships. The sale of elderly capesizes—primarily those built between 2011 and 2012—has taken centre stage, with several high-profile transactions concluded or under negotiation.

Among the headline deals, Singapore-based Eastern Pacific Shipping (EPS) is reported to have sold the Mount K2, a 177,000 dwt Mitsui-built capesize from 2011. The vessel, which is due for its special survey in September, has fetched $26.85m. EPS, a well-known player in the bulk carrier space, had previously offloaded another cape earlier this year—Mount Song, a one-year-old Koyo Dock-built vessel.

Comparatively, a similarly sized and aged vessel—the Golden Zhoushan, built in 2011 at China’s Jinhai shipyard—has reportedly changed hands for $22mn. The pricing reflects the traditional market discount applied to Chinese-built tonnage, even more so as this vessel is due for its special survey in January. The seller, SFL Corporation, remains an active player in the sale and purchase market, having released several capesize units earlier this year.

Other notable sales rumours involve Chinese-controlled vessels such as the Pacific South (built at Jiangsu Rongsheng) and Pacific East (built at Shanghai Waigaoqiao), both of which fall into the same age and size category. Brokers suggest these ships have either been sold or received firm offers, and more names are expected to appear in the sales columns over the coming weekend.

While the overall dry bulk freight market remains under pressure, the renewed interest in secondhand capesize tonnage—particularly older units—suggests opportunistic buying is returning. Buyers are seeking value acquisitions that could benefit from any future upswing in earnings, while sellers are clearly eager to conclude business before liquidity traditionally dries up during the European summer break.