Monday, April 16, 2012

BC scrapping goes on



Around 14 capesize bulkers have been sent to the scrap yard this year.

Hyundai Merchant Marine recently sent one of its oldest capesize bulkers to the scrap heap.

Seoul-listed HMM is understood to have sold 186,000-dwt Hyundai Olympia (built 1987) for demolition.

Sources say the vessel fetched $456 per ldt in Korea, meaning a $9.9m cheque for the owner.

The number of panamax bulkers sold for demolition so far is 33 following the scrapping of another two last week.

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