The state shipowner said a boxship and 13 bulkers were offloaded in February and March for a total of CNY 211m ($33.93m), but the company has booked a loss of CNY 72m on the deals.

The vessels total 924,700 dwt.

CCHC said the sales lowered the average age of its fleet and also improved fuel efficiency and overall competitiveness.

In January the company said it had sent five containerships and three bulkers to breakers yards.

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