Berge Bulk scraps ninth large bulker in less than two years

Singapore-based bulker owner Berge Bulk has sold another VLOC for demolition as it continues to trim older large bulkers from its fleet.

The outfit has sold the 289,000-dwt Berge Kibo (built 1993) on an as-is basis in Labuan, Malaysia, shipbrokers said.

The vessel has fetched $375 per ldt, or $14m in total, and is likely to be scrapped in Pakistan, the sources said.