The Shanghai-listed shipowner says it plans to sell or scrap eight elderly bulk carriers over the next twelve months.

The vessels selected for disposal would be 20 years of age or older, CMES said in a regulatory disclosure.

Data from Clarksons shows that CMES owns six handymax bulkers built in 1992 or 1993 and two panamaxes built in 1993 which look to be the most likely sales candidates.

Earlier