Sinokor sells elderly VLOC for demolition

Sinokor sells elderly VLOC for demolition

South Korean owner Sinokor Merchant Marine has sold its 1992-built VLOC HBIS Sunrise for demolition.

Shipbroking sources said the 268,000 dwt Mitsubishi-built vintage unit has fetched a price of $310 per ldt, including 2,700 tons of bunker fuel onboard.

VesselsValue data shows the vessel will be delivered to Bangladesh and the buyer will retain seller’s crew for six to eight weeks at at $15,000 per month after delivery.

Shipbroking house Clarksons said in its weekly report that all three major ship recycling destinations on the Indian sub-continent remain under lockdown conditions, severely limiting demolition activity. According to Clarksons, the lockdown period is set to affect India until May 3 and Pakistan until April 30, while restrictions in Bangladesh were extended this week until  May 5.

“It remains highly uncertain whether lockdown measures will be fully lifted on these dates, with governments in the region not likely to ease restrictions until the rate of new virus cases falls for a sustained period,” Clarksons said.

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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