The demolition market is watching closely as Pan Ocean seeks to sell its oldest capesize bulker in a recycling sale.
Market sources said the South Korean shipowner is taking offers on its 149,000-dwt New Joy (built 1998) for a demolition sale.
The vessel is available “as is” in South Korea in the middle of July. The ship is expected to bring in the South Korean owner some $300 per ldt, or more than $5m.
