Mega Shipping Line Corp, one of Greece’s many lesser-known small shipowners, has sold a 28-year-old handymax bulk carrier for recycling in Bangladesh.
The 43,200-dwt Konstantinos (built 1995) arrived at Chattogram towards the end of last week and is awaiting beaching, according to multiple ship recycling sources.
No pricing details have been disclosed, although the latest cash buyer reports indicate the going rate for handymax tonnage in Bangladesh stands at about $510 to $515 per ldt, beating price offerings from India by a full $30 per ldt.
Pakistani ship recyclers are offering up to $530 per ldt for dry tonnage, although cash buyers told TradeWinds that the country’s chaotic election last week led to no firm offers being made.
The sale of the Konstantinos leaves Mega Shipping controlling five handymax to panamax bulk carriers and reduces the fleet’s average age to 17 years.
Another handymax bulker will soon join the Konstantinos off Chattogram’s recycling beach.
Hong Kong-based single-ship owner EZ Shipping is reported to have sold its 53,100-dwt EZ Fortuna (built 1995) for recycling there at an undisclosed price. The ship is currently in Indonesian waters.
The recycling market was extremely quiet over the past week, with the only other reported deal being the sale of a small Russian-controlled reefer.
Magadan-based MAG-SEA Tranzit’s 3,400-cbm Bukhta Nagaeva (built 1984) was said to have gone to Bangladesh at $495 per ldt, or $1.2m.
However, on vessel tracking websites. the Bukhta Nagaeva’s AIS was on Tuesday broadcasting that it was heading to Gadani in Pakistan, where it will arrive on 17 February.
The ship is making its final voyage under the flag of Eswatini, the landlocked African nation formerly known as Swaziland.
