Cido Shipping has put more VLOCs up for sale in an apparent effort to exit the segment.
The Hong Kong-headquartered shipowner has put its remaining three VLOCs on the sales block after offloading the 278,000-dwt Pacific Opal (built 1995) for scrap earlier this month, demolition brokers said.
The latest candidates are the 265,000-dwt Pacific Ruby (built 1993), 277,000-dwt Pacific Garnet and 265,000-dwt Pacific Coral (both built 1995).
They are being offered for either individual demolition sales or as an enbloc trio.
However, demolition brokers said the Pacific Ruby is still on long-term charter, so it may not be sold immediately. This ship, which was converted from a VLCC in 2008, is not due for special survey until June 2023, and the duration of the charter is unclear.
The Pacific Coral is also converted from a VLCC and, along with the Pacific Garnet, is due for special survey this year.
No date has so far been set for offers to be presented for the vessels.
Earlier this month, Cido sold the 278,157-dwt Pacific Opal (built 1995) for demolition in Bangladesh. This was its first disposal of a large bulker in almost seven years.
Cido was founded by Hyuk Kwon in 1990 and is known for particularly strong relations with Japanese charterers. The diversified company controls about 100 tankers, bulkers and car carriers.
Its includes two standard capesizes — the 176,000-dwt Great Navigator (built 2006) and Great Challenger (built 2005).
Cido's sales effort comes as large bulker recycling candidates continue to enter the market despite hiccups caused by the coronavirus outbreak.
