Scrapping activity in the panamax bulker segment is gathering momentum as three more units have been sold this week.
This means at least 36 panamaxes have torched so far this year — twice the capesize tally — and is a reflection on the panamax sub-sector, which is suffering the worst rates.
Cyprus Maritime of Greece has sold the 70,000-dwt Princess Vanya (built 1989) for a full $514 per ldt, or $4.7m,
