Falling steel plate prices in the Indian sub-continent have muted recycling activity, but some owners are still finding scrap buyers.
Brokers reported Singapore owner Nova Shipping’s 44,000-dwt woodchip carrier Shandong Express (built 1989) sold at a higher than expected level of $605 per ldt into Bangladesh.
Demolition broker Ed McIlvaney noted the ship has nearly 400 tonnes of low sulphur bunkers on board, which helped the seller secure the “rich” price of $5.2m.
