A second capesize in three weeks has been reported sold for demolition, suggesting that underwhelming earnings for such ships may yet provide work for underemployed scrapyards.
Cash buyer Best Oasis said in its latest weekly report that the 174,100-dwt Star Tianjin (built 2004) is heading towards the scrapyard.
According to Clarksons, the vessel is changing hands for $600 per ldt on an “as is” basis in the east Indian port of Vizag.
