Steel and mining giant ArcelorMittal’s shipping arm is said to be selling three of its oldest vessels for about $44m in total.

Brokers in the UK, US and Greece reported the move just three months after ArcelorMittal Shipping snapped up one of the most modern capesizes on the water.

TradeWinds reported in November that ArcelorMittal Shipping was being linked to the $67.5m