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Maritime News

Cheap as ships Second hand ship sales reach 10 year high

Sales of second-hand ships reached a 10-year high on cautious optimism that one of the shipping industry’s worst ever downturns is nearing an end.

An increase in cargo demand has helped revive confidence this year in a sector that is starting to emerge from a 10-year slump fueled by owners splurging on thousands of new ships.

“Second-hand purchases go up when optimism is thriving. 2017 has certainly been a year that has lent optimism a hand,” said Peter Sand, chief analyst at shipping industry group Bimco.

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