Genco Shipping & Trading is aiming complete a major disposal of veteran tonnage by the end of this year.
New York-listed Genco had previously earmarked 15 older bulkers for sale. After initial progress 12 of that tally remain with the company.
Genco will begin the divestment of those dozen ships in September and October, when the market is firmer and there are more buyers, chief executive John Wobensmith said during a conference call.
