Global United Shipping is said to have made a rare sale of a 2000-built capesize bulker for demolition in Bangladesh.
Sources said the Indian shipowner had offloaded its 171,000-dwt Equator Peace “as is” in Qingdao for $437 per ldt, or $9m.
The ship is not due for special survey until July 2020.
It is the 12th capesize bulker to be sold for recycling this year, but the others were built in the 1990s.
Structural problems
Due to a relatively strong freight market, owners tend to keep large vessels of this vintage, but the Equator Peace has suffered structural problems.
VesselsValue says ships of this type are worth $10.7m in a trading sale, while Maritime Strategies International puts its estimate at between $12.6m and $14.4m.
Global United is an Indian unit of Singapore-based Synergy Group. Chief executive Rajesh Unni did not respond to requests for comment.
In July, the company sold the 76,000-dwt bulker Lady Maria Ocean (built 2007) to Greek shipowner Shelton Navigation for $13m.
