Dry demolition

16th March, 2009

Dry demolition

Eight more bulkers have been sold for scrap in the last week, compared to seven the week before, but prices dropped.

Derivatives broker Imarex reported that four of the ships were handysizes, two were handymaxes and two were panamaxes, all aged between 26 and 35 years. Scrap prices dropped about $10 to between $260 per ldt and $285 per ldt.

US buyer GMS also reported the sale of two boxships into Bangladesh, and three reefers and a passenger vessel into India.

The reefers were the 571,800-cbf Pietari Bright , 449,800-cbf Pietari Glory (both built 1979) and 412,500-cbf Pietari Cliff (built 1985), put up for auction in the UK after their owner, Russian fruit-trader Sorus, collapsed in February.

Source: Trade Winds

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