China-Japan International Ferry (ChinJiff), a subsidiary of Chinese shipping giant Cosco, has sold its oldest ropax for recycling.
The sale of the 14,400-gt Su Zhou Hao (built 1992) occurred during a week marked by minimal interest from shipowners in recycling their vessels. This reluctance was driven by low steel demand and falling currencies on the Indian subcontinent, coupled with sustained high demand for tonnage, as Houthi rebels redrew the shipping lane map, forcing ships to divert from the Red Sea to the long-haul route around the Cape of Good Hope.
