China Shipping Development Company (CSDC) is scrapping its ageing bulker Chang Jian for RMB12m at associate yard Digang Dili. The 31-year-old vessel was constructed by Shanghai Jiangnan Shipyard and is 6,190 ldt.
The sale price comes up to $306 per ldt. No valuation has been done on the vessel and as at 30 June had been fully depreciated on CSDC's books, resulting in a net gain from the sale of RMB12m, which will used as working capital, CSDC said in a stock market
announcement.