Seanergy Maritime Holdings has sent a seventeen-year-old capesize for scrap reflecting the parlous state of the market.

The US-listed shipowner said it has sold its 172,173-dwt BET Scouter (built 1995) at a gross price of $12.1m.

“The vessel was sold for demolition and was delivered to its new owners Tuesday. We will use the proceeds to reduce debt,” it confirmed.

Following the sale Seanergy’s fleet now consists of ten handysize, three panamax, two supramax and three capesize bulkers with an average age of 13.9