Owner scraps mini-cape

Great Harvest is exiting the capesize business after selling its oldest bulker for scrap, brokers believe.

China-based Great Harvest is said to have sold the 123,500-dwt GH Resources (built 1990) for demolition in Bangladesh.

Brokers and cash buyers say the mini-cape fetched $467 per ldt, which works out at $7.15m.

The ship, which was sold “as is” in Hong Kong, had around 250 tons of bunkers on board.

The sale of GH Resources will leave the owner with four panamaxes in the water.