Subscribe to RSS feedCapesizes scrapped as rates start to fall
by
Brian Reyes
—
last modified
Aug 13, 2010 04:21 PM
Indian breakers purchased two more large bulk carriers last week and brokers said more could follow as capesize freight rates slumped against rising demolition prices.
The 1981-built, 22,693 ldt capesize bulker Mercedes, operated by Polembros Shipping, was reported sold to an Indian buyer on an “as is” basis in North China for US$383 per ldt, or nearly US$8.7m.
Given delivery costs to India, the price...
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