Scrap cash for Yang Ming

Yang Ming is believed to have collected almost $10m from its latest boxship demolition deal.

TradeWinds reported on Friday the 3,725-teu YM North(built 1995) had been sold “as is” in Colombo but the price had yet to emerged.

Clarksons prices the sale at $472 per ldt in its weekly report and Cash buyer GMS reported today that the vessel fetched a "superlative" $491 per ldt.

This means the liner will have collected between $9.1m and $9.5m for the vessel.

As we report today, the owner recorded a profit of TWD 237.76m ($7.93m) in the second quarter, against a loss of TWD 2.61bn in the same period of 2013.