Polaris Shipping has sold another two vessels amid a clear-out of older VLOCs, according to demolition brokers.
The South Korean bulker company has sold the 278,000-dwt Stellar Eagle (built 1993) and 263,000-dwt Stellar Galaxy (built 1993) for recycling in Pakistan, the brokers said.
Polaris bought the Stellar Eagle from BW Group as a VLCC in 2008, while it purchased the Stellar Galaxy from Cido Shipping in 2010.
The price tag was not revealed, and Polaris did not respond to requests for comment.
The company, which is primarily a bulker owner, has sold nine VLOCs for recycling this year.
Polaris sold two VLOCs for demolition this month. It unloaded the 305,000-dwt Stellar Queen and Stellar Hermes (both built 1994) in deals that gave buyers the option to scrap the vessels either in Pakistan or Bangladesh. Both have been beached at Gadani, Pakistan, according to data from GMS.
They changed hands for $355 per ldt.
In the first half of 2020, the company sold five large bulkers for scrap.
Meanwhile, Angelicoussis Group company Maran Dry Management has sold the 277,000-dwt VLOC Gelasha (built 1982).
The company offloaded the ship — previously named Anangel Shagang — as is in Singapore for $377 per ldt, or $14.6m, brokers said.
Maran Dry did not respond to requests for comment.
This comes after an August deal that saw the company sell another VLOC — the 276,000-dwt Ore Sudbury (built 1992) — for demolition.
