Precious Shipping has continued its fleet renewal efforts with the disposal of a veteran handysize at a time when owners are losing the battle to counter oversupply.
The Thai owner has secured $1.45m for the 28,600-dwt Saranya Naree (built 1991), it told investors today.
Shipbrokers say the ship will be cut up in India after securing $251m per ldt.
Data from Deutsche Bank shows 68 bulkers of a combined 5.4
