Hashim says the sales will begin next year, mostly as vessels finish their current employment contracts. He had previously hinted at the possibility of these ships being sold earlier this year, when he said Precious would hopefully raise around $200m to help pay down the debt on the newbuildings.
Whether or not the company is able to achieve the $200m target for its older non-eco bulkers remains to be seen but, regardless of this, Hashim says it is time for these ships to go, as it is becoming almost impossible to employ them in a market where charterers are looking for newer, more efficient tonnage.
“Clients
