At least 10 Capesizes and very large ore carriers were offered for demolition sales last week, putting even more pressure on scrap prices.

As the Baltic Dry Index (BDI) shows no sign of sustained improvement, ship owners have been offloading older Capesizes and other bulkers to minimize losses.

Dubai-based cash buyer Global Marketing Systems claims that year-to-date, 51 Capesizes have already been sold for recycling and 10 of these were sold last week.

A record was set for Capesize demolition in 2012, when 77 ships were scrapped.

Greek broker Golden Destiny reported that Korea Line Corporation's 1990-built Golden Bell, Mitsubishi Corporation's same-age Marigold and 1996-built Iron Queen were sold for demolition into Bangladesh last week.

Golden Bell fetched US$9,647,040 or US$390 per ldt while Marigold fetched US$10,000,770 or US$390/ldt. Enterprises Shipping & Trading's Iron Queen was sold for US$8,325,111 or US$419 per ldt.

Golden Destiny also reported that Fair Shipmanagement's 1992-built New Horizon was sold for US$8,691,904 or US$416 per ldt, for demolition in the Indian sub-continent.

Berge Bulk, having sold one of its VLOCs, Berge Vik, for scrap in mid-April, offloaded another VLOC for demolition. The 1996-built Berge Prosperity was sold for US$9,824,045 or US$395 per ldt.

As an indication of just how bad the freight market is, yet another 15-year-old Capesize was sold for scrap. Sea Star Ships Management's 2000-built Glory Claire was sold for US$8,230,800 or US$400 per ldt. In March, 'K' Line sold the same-age Cape Flora for scrap.