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Ningbo Marine disposes two old bulkers

Ningbo Marine will send two old dry bulk carriers to the scrapyard to pocket around RMB15m ($2.46m).

The Shanghai-listed marine firm said it will dispose the 1985-built, 52,450 dwt Mingzhou 29 and the 1988-built, 52,450 dwt Mingzhou 30 to domestic scrapyard Fujian Saijiang Shipbreaking.

The two elderly vessels will be sold at a total price of RMB56.5m, raising net proceeds of about RMB15m for Ningbo Marine.

The two vessels will be delivered to the scrapyard by 5 December this year.

Ningbo Marine said the disposal of the two old ships will help to streamline the company's fleet and reduce the age profile of its vessels to better meet demands of the market.

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