Second hand vessel sales retreat to year-lows during July

With sea freight markets retreating both in the dry and the wet segments of the market during most of July, ship owners were reluctant to invest in acquiring more vessels, after the high level of sale and purchase activity, observed during May and June. According to the latest monthly analysis, prepared by shipbroker Golden Destiny, in cooperation with Hellenic Shipping News Worldwide, July could be described as the month with the lowest record activity during the year, in terms of reported number of transactions, with tankers holding the largest share of the S&P secondhand market, almost 32%.