London: Another capesize bulk carrier is headed for a beach on the Indian subcontinent today, the 19th such vessel to be scrapped this year so far.
Only five capes were sold for demolition last year between January 1 and March 5.
Singapore’s Eastern Pacific Shipping today sold the 19,992-ldt Cape Stork (171,000 dwt, built 1996) for demolition in India for $380/ldt or around $7.8m in total.
Eastern Pacific attempted to sell in the vessel to Singapore-based New Yangtze Navigation in November 2014 for a price of $15.1m, but the sale fell through, VesselsValue.com data says.
Demolitions of bulk carriers have increased this year compared with last year due to the weak dry market, as Splash reported previously.
On Monday, the first 2000-built cape was sold for demolition in India by K Line.
