Capesize values continue to firm, with a string of reported sales now confirmed and delivered. Greek and Chinese buyers have been the most active, tying their names to the majority of transactions.

Goldenport has doubled its cape exposure, acquiring its first unit of the year — the 13-year-old, 176,000 dwt Pacific East (Shanghai Waigaoqiao Shipbuilding, 2011) — for $27.5m. Due for drydock at year-end, the ship has just been renamed Despotiko and is already viewed as a bargain with spot rates currently in the $27,000 a day region.

Another highlight saw the 14-year-old Pacific North (Dalian Shipbuilding) change hands for $25.5m, also to Greek interests. Both ships are part of a quartet of capes offloaded by Sinokor and have since appreciated in value. VesselsValue now values the Waigaoqiao-built unit at $30.53m and the Dalian-built vessel at $27.17m.

Also confirmed is the sale of the Mount K2 (177,000 dwt, Mitsui, 2011), which fetched $26.85m. Due for its special survey in September, the vessel has been renamed ES Grand Sea under the new Chinese owner East Success Forever Ship Management. VesselsValue currently values the ship at $27.38m.

Since June, VesselsValue has recorded sales of five Japanese-built capes and 10 Chinese-built units.