Polaris Shipping has sold two very large ore carriers for recycling at at a time when owners of large bulkers are increasingly forced to accept lower prices, demolition brokers said.
The South Korean shipowner is said to have sold the 291,000-dwt Stellar Samba (built 1994) and 288,000-dwt Stellar Iris (built 1995) for $295 per ldt.
The price for the VLOCs, which were converted from tankers, includes 1,000 tonnes of bunkers and gives the undisclosed buyer the option to deliver them to the recycling market of its choosing, sources said.
