Norway's Saga Shipholding is stepping up its fleet renewal with the reported sale of two open-hatch bulk carriers for demolition.
The 47,000-dwt Saga Wave and Saga Tide (both built 1991) are being sold to Indian shipbreakers, sources told TradeWinds.
In accordance with the requirements of the Hong Kong ship recycling convention, Saga will have a representative at the yard during the operation.
Green deals
Deals for ships sold for green recycling now pay about the same as other scrap deals, market data indicates.
The Saga Tide and Saga Wave are reported to have been sold for $598 per ldt.
The Norwegian company has a fleet of 34 open-hatch bulkers. Saga co-operates with Masterbulk and Japan’s NYK Line. In total, the joint operation has 53 open-hatch vessels.
This story has been amended since publication to reflect the ships were owned by Saga Shipholding and not Masterbulk.
