Cido Shipping is exiting the segment for large ore carriers after selling its last two giant bulkers.

The shipowner has sold the 265,000-dwt Pacific Coral (built 1995) for scrap either in Pakistan or in Bangladesh, demolition market sources said.

The company has also offloaded the 261,000-dwt Pacific Ruby (built 1993) for recycling, although details on this transaction are unclear.

The Pacific Coral changed hands for $296 per ldt, or $11.9m.