Tuesday, April 17, 2012

Japanese scraps Cape BC



Japan's NS United Kaiun has reportedly sold an elderly capesize bulker for demolition.

The ship involved is said to be the 156,326-dwt Iris Frontier (built 1987), according to US-based cash buyers GMS.

Market talk says the Mitsui-built ship has been sold for around $440 per ldt, netting the shipowner over $9.1m

New York-based GMS said in its weekly report that the capesize was sold to an unnamed ‘green’ recycling yard in China.

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