Japanese sellers are continuing to place a steady stream of bulk carrier tonnage on the market, motivated either by the expectation of lower prices in coming months, by the need to recycle capital into newbuilding projects, or in a few cases pushed into selling by pressure from their financiers.rnBuyers remain non-committal, however, with some deals previously reported failing or being re-negotiated, largely as a consequence of falling price expectations. TMT's purchase of the Cape-size Lady Madonna (built 1990 NKK, 141,653dwt) at $21.5M two weeks ago is said to have fallen through and a subsequent renewed round of offers failed to find buyers even at $18M, leaving the Japanese seller reportedly looking for period employment as an alternative.
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