Asian bulker operators shed older tonnage onto recyclers

Two Asian shipowners — Vietnam’s ITC Corp and China’s Fuhai Shipping — sold their oldest bulk carriers for recycling as 2022 drew to a close.

Dubai-based Lila Global was also reported to have offloaded a capesize bulker for scrap.

ITC Corp’s 27,000-dwt bulker Ocean Star (built 1990) was sold to cash buyers on an ‘as is’ basis in Vietnam at $460 per ldt, or $2.9m.