The vessel has been sold for $2.31m with Precious Shipping collecting $1.48m for its share in the vessel.
The 1976-built Fujisan Maru was converted to a cement carrier in 1998. The old ship will be delivered to the scrapyard by 24 January, according to Precious Shipping.
The dry bulk shipowner said the move is “in accordance with the company's strategy to rejuvenate its fleet by selling its older vessels and acquiring younger and bigger vessels.”
Last month, Precious Shipping splashed out $198m to build eight bulker newbuildings at a Chinese shipyard. The shipowner contracted Taizhou Sanfu Ship Engineering to build four 39,000 dwt and four 64,000 dwt bulkers.
In November 2013, the shipowner also booked a pair of 64,000 dwt bulkers and a pair of 38,500 dwt bulkers at Chinese shipyards.
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