The 14 ships comprised of one container vessel and 13 dry bulk carriers, which have a combined capacity of 924,700 dwt.
The ships were sent for demolition between February and March this year, China Cosco announced to the stock exchange.
The Chinese shipowner commented that the move would lower the average age of its fleet, reduce bunker fuel consumption and improve the environmental friendliness level of its operations.
“This would raise the overall operational competitiveness for the company’s fleet,” it said.
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