Cargill has cashed in three capesize newbuildings and replaced them with a trio of secondhand vessels, including two from Geden Lines, sources believe.
Brokers suggest Cargill may have been scared by the recent surge in newbuilding activity and sold the 180,000-dwt ships at Shanghai Waigaoqiao Shipbuilding (SWS) profitably to rapidly expanding Scorpio Bulkers.
The ships were ordered in May this year for delivery in 2015 for $47.5m.
