Zodiac Maritime has sold its first large bulker for demolition in more than two years.

The 265,000-dwt Guofeng Enterprise (built 1993) is reported to have been sold for $278 per ldt to a recycling yard in India. With the ship weighing in at nearly 36,400 ldt, that implies a gross sale price of $10.1m.

The Eyal Ofer-controlled company is understood to be scrapping the ship at a yard that has a statement of compliance with the IMO's Hong Kong Convention for the Safe and Environmentally Sound Recycling of Ships.