Chinese-built Supramax resales have been a bellwether for the S&P market over the past 12 months, and it is no surprise to see prices falling. Eagle Bulk's 58,000dwt Saker, due for delivery from Yangzhou Dayang in April 2012, is said to have been sold for $30M to Turkish buyers. The New York-listed seller has a further 14 Supramax newbuildings of the same type currently on order, therefore the sale is arguably a prudent reduction of exposure to an uncertain forward market.
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