Gearbulk has not decided what to do with its 1980s built vessels, executives say.
TradeWinds reports today that competitor Masterbulk has sold its last open hatch ships built before 1990.
The 43,000-dwt Geiranger and Grindanger (both built 1986) have gone for guaranteed green recycling to India.
Gearbulk’s oldest ships are the 41,000-dwt Hawk Arrow and Kumul Arrow (both built 1985) and the Ibis Arrow (built 1986).
Ketil Andreassen, managing director of Gearbulk, says the company has not finally decided what to do with these ships.
Gearbulk is 51% owned by Kristian Jebsen and 49% by Japan’s MOL.
