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VesselsValue: US Firms Buy Most Auction/Bank Sale Ships in 2017

November 13, 2017

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2017 has seen US owners top the list of buyers of distressed tonnage, snapping up vessels sold at bank sales and at auction deals, VesselsValue said.

Asset values reached a 25-year low for bulkers, containers and offshore vessel types in 2016, with a spike in the number of bankruptcies and vessel seizures by banks. US owners have been buying these vessels, spending USD 624.1 million on 52 distressed vessels so far.

This comes in at just under double what Greece has spent, totaling USD 385.3 million. The next country on the list of top buyers is South Korea, having bought a total of 20 ships for USD 228 million.

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