Green Reefers has sold two ships that are more than three decades old to recycling markets in India and Turkey.
The deals emerged as demolition prices have been declining in India.
The Norwegian shipowner has offloaded the 266,000-cbf reefer Green Maloy (built 1990) for $480 to $488 per ldt, according to Best Oasis and VesselsValue.
With the 34-year-old ship weighing in at 2,975 ldt, the deal is worth between $1.43m and $1.45m.
Satellite tracking data from VesselsValue shows the Green Maloy has been delivered to the Indian ship recycling centre of Alang.
The deal emerged as Best Oasis, a Dubai-based cash buyer of ships for demolition, reported that prices in India have fallen for a second consecutive week.
Prices for container ships at Alang fell by $10 to $490 per ldt, according to the company’s latest weekly report. A week earlier, prices fell by $5 per ldt.
“We have observed a recurring trend where the market experiences brief hiccups of recovery, followed by a downturn, indicating ongoing volatility and uncertainty. The ongoing festival season is also contributing to the current market behaviour,” Best Oasis said on Friday.
“Additionally, the demand for steel remains low, further adding to the uncertainty in the market.”
Meanwhile, Green Reefers is reported to have also sold its 310,000-cbf Green Maveric (built 1993) for an unspecified price, according to VesselsValue and Best Oasis.
The ship, whose steel weighs 3,056 ldt, was delivered to Aliaga, where Turkey’s ship recycling business is located, on 10 October.
Green Reefers, which could not be reached for comment after business hours in Norway, acquired both vessels in 2006.
VesselsValue data shows it bought the Green Maloy for $7m as part of an en-bloc deal with Norbulk Shipping. The Green Maveric was bought from Seatrade Groningen for about $10.3m.
The sales leave Bergen-based Green Reefers with a fleet of 13 vessels, all built between 1989 and 1994.
The company has sold one other reefer for demolition so far this year, after two sales in 2023.
