AsiaDry Cargo

Precious Shipping sells another handy bulker

Photo of Holly Birkett Holly BirkettMarch 22, 2016
1 5 Less than a minute

Thailand’s Precious Shipping has sold a 21-year-old handysize bulk carrier for $1.51m as part of its fleet renewal programme.

The 1995-built Fonthida Naree (28,500 dwt) was sold on March 10 to a buyer in Singapore, Precious said today in a filing.

The vessel’s last AIS update shows the ship was at anchor at Surat, India as of March 14.

Although today’s filing made no mention of the vessel being sold for demolition, shipping databases list the vessel as “dead”.

In January, Precious sold its 20-year-old handysize bulk carrier Ploypailin Naree for scrap to Pakistani buyers at a price of $1.74m.

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Photo of Holly Birkett Holly BirkettMarch 22, 2016
1 5 Less than a minute
Photo of Holly Birkett

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.

Comments

  1. since it seems difficult that world trade will increase in such degree as to absorb oversupply, scraping and reduced orders is the quickest way for the market to regain balance.

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