AsiaDry Cargo

Another capesize bulk carrier scrapped today

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, 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.



Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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