Brokers on both sides of the Atlantic claim Cosco Shanghai Ship Management sold the 152,100-dwt Fu Yuan (ex- China Fortune, built 1992) for recycling in Bangladesh.
According to report published by Lion Shipbrokers of Greece the vessel commanded approximately $390 per ldt, which amounts to a payday of roughly $7.2m.
The claim is also supported by VesselsValue.com, which believes the unit’s market and demolition values have been equal for the better part of the past three years.
Industry
