Dry CargoGreater China

Ningbo Marine scraps elderly bulker

Chinese dry bulk operator Ningbo Marine has sold its 1988-built 64,900 dwt panamax bulker Ming Zhou 20 via auction.

The South Korean-built vessel fetched a price of RMB35m ($5.42m) in the auction, slightly higher than VesselsValue’s valuation of $5.17m.

The vessel will be sent to a scrap yard for recycling.

VesselsValue data shows Ningbo Marine currently owns a fleet of 43 vessels made up of 25 bulkers, 17 feeder boxships and one tanker.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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