Second hand vessel deals down 50pc so far this year.

The second hand market for ships has declined to just $7 billion, versus $13.5 billion in the same period of 2022. In its latest weekly report, shipbroker said that "the global economy is holding its breath as two American banks, Silicon Valley Bank and New York's Signature Bank collapsed withing the past three days. US authorities raced on Sunday to stem jitters about the health of the nation's financial system, pledging to fully protect all depositors' money while also giving any...