The 45,000-dwt Tsuru Arrow (built 1987) has gone to India where it is believed to have fetched slightly less than $3m.

UK-based Gearbulk has a policy of scrapping its bulkers when they are 30 years old and as late as in 2012 it had 24 units dating to the 1980s. Since then only three bulkers have been reported sold — the 42,000-dwt Apalis Arrow and Kestrel Arrow (both built 1983) and 41,000-dwt Tern Arrow (built 1986).

But