STX Pan Ocean of Korea is said to have sold its oldest capesize bulker for scrap.
Brokers say the 245,000-dwt Ocean Universe (built 1998) fetched $11.2m, or around $380 per ldt.
Sources say the destination would be a recycling facility in India.
Data from Compass Maritime Services of the US indicates that some 67 bulkers over 80,000-dwt class have been sold for scrap this year while around 277 capesize newbuildings are due for delivery between now and 2015.