Genco Shipping & Trading is close to the finishing line in its efforts to phase out 10 elderly vessels following the sale of an 18-year-old handysize.
Sources say the Oshima-built 30,000-dwt Genco Reliance (built 1999) has fetched $3.5m, which is in line with expectations.
However London-headquartered broker Clarksons claims the bulker changed hands in the “high $2ms”.
The Genco Reliance has a demolition value of $2m, but is not due for special survey till September 2019.
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