The demolition market for capesize bulkers and very large ore carriers (VLOCs) has come alive, with at least four units being sent for recycling.

The scrap market for large ships has recently been dominated by tankers as that segment has deteriorated. While demolition activity for capesizes has been almost non-existent, with spot rates approaching $20,000 per day.

The sale of some units is quite puzzling as they are not due for immediate surveys, apart from the 261,000-dwt VLOC Stellar Cosmo (built 1992).