The fleet of China’s Ningbo Pacific Shipping is in the process of being broken up, with a 27-year-old panamax bulker being sold at auction for further trading.
A company called Zhejiang Xiehai Shipping has been named as the buyer of the Imabari-built, 69,000-dwt Tuo Zhan 7 (built 1990). TradeWinds is told the vessel fetched $4.3m — or $1m over scrap value.
Ill-timed
