The Oshima-built, 49,000-dwt Pacific Primate and Pacific Scorpio (both built 1997) are understood to have gone to a Chinese buyer for just $3.2m each, only $800,000 above their demolition value.

Online valuation platform VesselsValue.com says the ships are worth $4.1m each.

In March, CMES told the Shanghai Stock Exchange that it intended to sell eight older vessels — six bulkers and two tankers.