Fred Cheng company Shinyo International is said to have sold the 248,000dwt tanker Shinyo Alliance (built 1991) for scrapping in India
The owner bought the ship in 2002 as Tokiwa for $24.5m. The deal may have been concluded some time ago but has only just surfaced.
Shinyo has sold two other VLCCs for scrap this year, the 271,000dwt Shinyo Mariner (built 1991) in May for $435 per ldt and 250,000dwt Shinyo Jubilee (built 1988) for $415 per ldt in January. Cheng earlier this year sold seven modern VLCCs to USlisted Navios Corp.
Greek owner Chandris has fetched an even higher price for its 82,000dwt tanker Zeinat 2 (built 1986), reported sold to India
Brokers say the buyer was expecting prices to climb further by December, when the ship is set to be delivered. Chandris bought the ship as Ist in 2005 for $16.75m. It is the last singlehull tanker in the company’s fleet and was operating for its Egyptian subsidiary, Pyramid Navigation.
On the dry side, a couple of Chineseowned bulkers have been sold for demolition domestically. The 29,000dwt Bao Yue Jia (built 1978) is said to have gone for $415 per ldt, while owner Adani Shipping has sold the 17,300dwt Flotec (built 1982) for in excess of $400 per ldt or about $3m.
The company bought the ship as Theofano in 2006 for $5.6m.
Elsewhere, NB Maritime of Cyprus has sold the 19,900dwt iceclass bulker Norilsk China
On the boxship front, the 2,829teu MSC Voyager (built 1980) is said to have been sold to India
Source: Trade Winds. Trond Lillestolen. 29 October 2010
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