The deals means that at least 24 capesizes have been sold for recycling so far this year, which is the same as for the whole of 2014.

The 200,000-dwt Hyundai Universal and the 151,000-dwt Hyundai Prosperity (both built 1990) are sold as is either in Singapore or in Korea.

A price of around $380 per ldt has been mentioned. This would equal $9.6m