Athens-based Professor Shipping has ceased being a shipowner following the scrap sale of its only vessel, an elderly feeder-size container ship.
The company’s 1,033-teu Professor B (built 1984) has been sold to Indian ship recyclers for $545 per ldt, or $2.75m in total, according to the latest ship recycling reports.
Professor Shipping acquired the vessel as Osman Prince from Lebanese-backed Osman Junior Shipping in January 2021.
Throughout its time under Greek ownership, the Professor B has been technically managed and commercially operated by Lebanese shipping company Cedar Marine Services.
Recent ship tracking data shows the ship as operating between the Eastern Mediterranean and ports on the Red Sea.
The Professor B was one of only three ships reported to have been sold for recycling over the past week, as strong earnings for actively trading older vessels continue to serve as a deterrence for scraping.
The other two ships that were reported as being sold for scrap were both sold to ship recycling facilities in Bangladesh.
Chinese shipowner Fujian Xiamen Shipping, via Hong Kong-based cash buyer Wantong International, sold its 45,900-dwt bulker Xin Lv Bao Shi (built 1999) at $525 per ldt, or $4.1m, while Russia’s Amur Shipping offloaded its 9,700-gt multipurpose vessel Kapitan Ermakov onto Prime Spot Ship Trading, which delivered it to Chattogram under the name Prita Erma.
