Owners of bulkers pushing 30 years of age usually hope that scrap prices are high enough to earn a small residual profit when they are sold for recycling.
However, recent sales by two Chinese owners show that nice asset plays can still be made for these veteran vessels.
Junhan Marine’s 46,600-dwt Dux Benefit (built 1995) has shown up in Singapore sporting a new name, Sea Star 74.
