China Merchants Energy Shipping plans to sell eight old bulkers

2014-06-30

China Merchants Energy Shipping (CMES) has agreed to a plan to sell or scrap eight elderly dry bulk carriers over the next one year.

The bulk carriers selected for sale would be 20 years old and above, CMES announced to the Shanghai Stock Exchange.

The Chinese tanker and bulker owner said the board believes that the move will help to renew its dry bulk fleet.

Earlier this month, CMES had sold a 1992-built VLCC Kai Yong to the scrapyard for RMB83.91m ($13.43m).

Source from : seatrade-global.com

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