Greek owner Niovis Shipping is seeking a buyer for its oldest ship, a 20-year-old panamax bulker.

Sources say the Saumsung-built, 73,000-dwt Zed (built 1996), which can be inspected in South Korea this week and next, could go for demolition, providing the seller with more than $3m.

However, the ship passed special survey in August this year and this could lead to a trading sale of the vessel that was purchased from compatriot Andriaki Shipping as Kronos for $7m in January 2013.

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