China Merchants Energy Shipping sends bulker to scrapyardChina Merchants Energy Shipping sends bulker to scrapyard

The bulker Pacific Paradise, built in 1993 at Japan’s Oshima Shipbuilding, was delivered to a Chinese scrapyard last Thursday, CMES announced to the Shanghai Stock Exchange.

In early July, CMES sold another 21-year-old bulker Pacific Prospect for demolition, as the Chinese tanker and bulker owner continues with its fleet renewal plan by clearing out its older tonnages, especially those that are 20 years old and above.

In the meantime, CMES is waiting to take delivery of 10 new eco-friendly VLCCs with phased deliveries starting from the third quarter of this year.