Nearly half a dozen elderly vessels tied to this category were sold for demolition within the past two weeks, market sources told TradeWinds Monday.
The list includes the likes of the 38,400-dwt Pacific Success (built 1989), which is controlled by Hyundai Merchant Marine of South Korea.
According to Lion Shipbrokers of Greece the unit was sold “as is” in Singapore for approximately $475 per ldt, which amounts to a payday of nearly $3.8m.
The firm claims two other handies, the 37,600-dwt Amira Layan (built 1984) and 33,000-dwt Kifangondo (built 1989), fetched slightly more.
In a weekly client briefing Lion pointed out that the former was sold for recycling in Pakistan and indicated the latter will be torched in Bangladesh.
While forecasters believe both markets are starting to soften GMS, which bills itself as the world’s largest cash buyer, claims scrap tonnage is commanding even less in regions like India, Turkey and China.
