With average capesize earnings collapsing below $10,000 per day for the first time in more than six months, owners of ageing vessels are considering offloading their oldest ships for demolition.
Several market sources indicated that one such deal has already been concluded.
Golden Union, controlled by veteran Greek owner Theodore Veniamis, is said to have agreed to sell the 171,500-dwt Captain Veniamis (built 2001) for scrap.
