Prominent among the sellers is the German shipping giant, Oldendorff Carriers, which has actively participated in this selling spree. Oldendorff Carriers recently offloaded three 13-year-old post-panamax vessels, namely Christine Oldendorff, Charlotte Oldendorff, and Conrad Oldendorff.

The latter was acquired by the relatively low-profile Greek firm, MPP Carriers, for a sum of $16 million. The buyers for the remaining two ships are yet to be disclosed.

Turkish largest container owner signs for four boxship newbuilds in China Turkish largest container owner signs for four boxship newbuilds in China

According to insights from Clarksons Research, the prices of secondhand bulk carriers are currently approaching levels last witnessed in the aftermath of the global financial crisis.

Notably, these prices have surged by a remarkable 85% since the beginning of 2021, with a substantial uptick observed since October of the same year.

Market analysts attribute this upward trajectory to several factors, including a limited number of newbuild deliveries compared to historical norms, heightened investor confidence in a sustained recovery of freight rates in the long term, and a strategic move by ship owners to diversify their portfolios across various vessel segments.

Greek broker Xclusiv underscored these trends in a recent report, highlighting the industry's motivation for asset diversification amid the prevailing market dynamics.