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Ming WAH Shipping Plans to Sell 6 Aged Handymax Bulkers

Ship operator Hong Kong Ming WAH Shipping Co., Ltd. under China’s central enterprise China Merchants Group plans to sell six 20-year-old Handymax bulk carriers constructed by Japan’s Oshima Shipbuilding, reported a domestic shipping news provider.

The six 4,9000dwt bulkers are 1995-built Pacific Acadian, 1996-built Pacific Dolphin, 1996-built Pacific Emerald, 1996-built Pacific Mercury, 1997-built Pacific Primate, and 1997-built Pacific Scorpio, which is the last batch of 1990s-built bulkers of the central enterprise.

A renowned Asia-based bulker owner pointed out that owners sometimes have unrealistic illusions about profits obtained from the sale of aged Handymax bulkers at present before they get actual offers, and ultimately, they will opt for demolitions.

However, a Shanghai-based secondhand ship broker said that the Chinese market has improved for the sale of such Handymax bulkers, noting that the coal transport volume from South Asia to China has been increasing over the past months and owners may consider acquiring some cheap old ships.

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