A new high has been set in the bulker sale-and-purchase market with the rare sale of a modern kamsarmax.

European brokers said Singapore’s Safargo Shipping has offloaded the 81,900-dwt Valiant Spring (built 2015) for $28.2m or $28.3m, for forward delivery in September.

Cleaves S&P broker Einar Straume said: “A long-awaited benchmark for relatively modern kamsarmaxes was found in the dry bulk S&P this week.”