Hunan Ocean Shipping Co appears to have sold its oldest handysize bulker for scrap.
The Asian operator is expected to rake in more than $3.9m when breakers take the torch to the 37,200-dwt Shao Shan 1 (ex-Western Tiger, built 1984) following a deal sealed at $490 per ldt, according to GMS.
The scrapping specialist says the vessel will be recycled in India, which also appears to be the final destination for the 9,300-dwt chemical tanker Saehan Baystar (ex Golden Frontier, built 1985).
If reports are on point, Saehan Marine Services of South Korea will walk away with a whopping $702 per ldt or $2.1m as the transaction included more than 291 tonnes of stainless steel.