China Steel Express, the shipping arm of Taiwan’s largest steel producer, has begun to sell some of its oldest vessels as part of its fleet renewal.
Brokers said the 176,000-dwt China Steel Growth and China Steel Excellence (both built 2002) were put on the sales block recently, and an unnamed Chinese firm may pay $20m for them enbloc.
China Steel Express has a stated goal of selling four aged capesize bulkers by 2023, although company executives stressed the actual timings of sales would depend on market conditions.
