The scrap market for capesize bulkers continues to be busy, with at least two units reported to be heading to the breakers.
Greek owner Alpha Bulkers Shipmanagement is said to be selling the 170,000-dwt Alpha Cosmos (built 2001) for around $10m.
The vessel is described as having been a cash cow for the company.
The bulker was purchased from Bocimar at a very low $34m in October 2002 as Mineral York and traded very profitably until the market crashed six years later.
The ship is now due for a special survey in March next year.
In January this year, Alpha sold a similar bulker, the 169,000-dwt Maria A Angelicoussis (built 2001), for demolition.
NYK sells big bulker
In another reported scrap deal, Japan’s NYK Line has disposed of the 164,000-dwt bulker Great Sunrise (built 1999) into India for NK-class recycling at $403 per ldt, or $8.2m, in a deal that includes 200 tonnes of bunkers.
Scrap prices are now under downward pressure, market players said.
Demolition broker Ed McIlvaney said that after a relatively quiet start to the week, owners became more tempted to part with vessels as they learned of the higher levels being paid.
The 19,468-ldt, 109,000-dwt product tanker Petroleum 115 (built 2000) has been committed at a strong $431 per ldt in Indonesia.
Bangladesh still hungry
The ship is listed in the fleet of domestic owner Buana Lintas Lautan.
McIlvaney said: "Taking into account the current thirst for tonnage from the Bangladesh market, one would have to assume that Chattogram will be the likely destination."
There is talk of a number of larger units still on the market, including another NYK ship inviting offers this week.
Deliveries for green recycling could be in January or February.
