Grieg Star has sold a handymax bulk carrier for "green" recycling, while its sister company GriegMaas has taken delivery of a new vessel.
The 40,900-dwt geared Star Fuji (built 1985) was delivered on Wednesday to the EU-approved Leyal Ship Recycling yard in Aliaga, Turkey.
Grieg Star estimates that during its 34-year lifespan, the South Korean-built open-hatch bulker sailed around 2.5 million nautical miles or over 150 times around the equator.
Meanwhile, on Tuesday GriegMaas received a new ultramax bulker, the 63,500-dwt Star Damon (built 2012), which will replace Star Fuji in the G2 Ocean pool.
GriegMaas bought the Star Damon in early June from Celsius Shipping of Denmark for a reported price of $16.9m.
Leyal Ship Recycling, located on Turkey's Aegean coast, broke up Grieg Star's 43,800-dwt geared bulker Star Gran (built 1986) in February.
Market sources told TradeWinds in March that Grieg Star received a 76% lower price by scrapping the open-hatch bulker in Turkey instead of the Indian subcontinent.
Prior to selling the Star Gran, the last time Grieg Star sold a ship for demolition was in 2016.
The company historically opted for Chinese shipbreaking yards, data from VesselsValue shows.
The demolition price for Star Fuji has not been disclosed.
