Singapore’s Berge Bulk has reportedly offloaded yet another capesize for recycling in a deal showing “incredibly firm” price levels remain achievable.
European brokers reported the 174,000-dwt Berge Arctic (built 2001) sold for green demolition in India at a strong $660 per ldt, or $18.1m.
VesselsValue assesses the ship as worth $14.91m for either scrap or further trading.
Demolition broker Ed McIlvaney said the subcontinent had been severely hit with a shortage of tonnage as sellers are deterred by the volatility arising from Russia’s invasion of Ukraine.
