NYK Bulkship Korea has become the first company to recycle a capesize bulker in 2025.
The 151,200-dwt Lady Cedros (built 1998), the oldest vessel in the fleet of the Busan-based offshoot of the Japanese shipping giant, was beached at Alang on Wednesday.
Brokers in the recycling sector said the veteran vessel was earmarked for recycling sale last November, and shortly thereafter rumours began circulating in the markets that it was being sold to Bangladeshi recyclers at $468 per ldt.
