After the fireworks this New Years Eve, values started to descend following a continuous steep climb over the last 24 months. Price levels were immediately influenced by the drop in freight rates. Sellers' asking prices dropped across the board and especially older tonnage is pushed more actively for sale. Furthermore, the activity came more or less to a standstill given a total lack of period fixtures, strongly increased uncertainty over the short to medium term freight market, financial turmoil etc.
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