Chinese bulker owners clearing their decks of older tonnage are sending bulk carriers to recycling facilities in Chattogram, Bangladesh.
There were no reports of any vessels being sold for recycling in India or Pakistan, although one small LPG carrier was beached at Alang after being sold in a previously unreported deal.
The Bangladeshi haul saw Shanghai Yang Pu Zhe Hai Shipping’s 22,200-dwt bulker Xin Xiang An (built 1992) sold for a low $490 per ldt, or $2.63m.
VesselsValue indicates that the ship is currently making its final voyage to Chattogram, where it is expected to arrive on 5 February. Its departure from the Shanghai Yang Pu Zhe Hai fleet leaves the shipowner with two 37,000-dwt bulkers dating from 2012.
Compatriot shipowner RTA Changsha sold the 22,300-dwt Rong Da Chang Sha (built 1998) for $535 per ldt, or $5m. The higher per ldt price is said to reflect a significant quantity of bunkers remaining on board the vessel, which also has a higher overall ldt due to it being fitted with cranes and tween decks.
In what has been a deal involving one of the oldest bulkers sold for recycling in recent times, the 46,600-dwt Song (built 1977), was sold for an undisclosed price to a Chattogram-based facility by Hong Kong-based cash buyer Wantong International.
The ship last traded under the name Dong Fang He Sheng for Tiangjin Yuanhua Shipping, and has since passed through the hands of a couple of cash buyers. It arrived off Chattogram last week.
The three Chinese ships were the only vessels listed on broking reports as being sold for recycling during the past week, although TradeWinds reported on Thursday that the ship recycling sector was abuzz with reports of two US-sanctioned ships with strong links to Iran being sold for scrap.
The Iranian owned 23,176-dwt general cargo ship Saviz (built 1999), which in 2021 was damaged by a limpet mine after it was accused of being a spy ship in the Red Sea, together with the sanctioned 310,309-dwt VLCC Adisa (built 2005), were both said to have been sold for scrap, although the off-market transactions left few details on where the ships will be recycled and how much they were sold for.
There have been no reports this week of any fresh deals involving ships sold to Indian or Pakistani ship recyclers.
