A Zodiac Maritime-controlled capesize bulker is one of five dry cargo vessels that have been reported by brokers and cash buyers to have been sold for recycling in the final week of 2022. The 173,000-dwt bulk carrier Cape Osprey (built 1999) was sold for green recycling at Alang at a price of $530 per ldt, or $10.9m, according to unconfirmed reports by brokers over the weekend. Zodiac could not be reached for comment due to a UK public holiday.

The dry bulk downturn has prompted other owners to prune their fleets of older bulker tonnage, giving South Asian ship recyclers a much-needed opportunity to acquire tonnage at the end of what has been a lackluster year on the buying front. Pakistani ship recyclers snapped up a couple of bulkers, according to Singapore-based Star Asia Shipbroking. China’s Fujian Zhenglian Shipping’s 69,300-dwt bulk carrier Jin Hang Zheng Lian (built 1990) was sold at $535 per ldt, or $5.1m on a delivered Gadani basis. Also sold on a delivered Gadani-basis was Belize-registered Jamila Shipping’s 46,600-dwt bulker Jamila (built 1995), which went at $511per ldt, or $4m. Single-ship owner Jamila acquired the ship in April as U Rich from Fujian Shipping. It is unclear whether the recycling sale enriched Jamila’s coffers as the vessel was bought for an undisclosed sum at a time when both its market value and scrap value were well above $4m, according to VesselsValue data. Ship recyclers in Bangladesh will have the opportunity to recycle Minsheng Financial Leasing’s 48,300-dwt bulk carrier Chang Fa Hai (built 1989), which was sold to cash buyers via Hong Kong based intermediary Wantong International on a delivered Chattogram basis at $500 per ldt, or $5.1m. The Chang Fa Hai traded in the fleet of Chinese dry bulk operator CSC Phoenix during its time under Minsheng Financial Leasing ownership. Cash buyer Wirana reported that Fuzhou Xinjiahong Shipping sold its 45,600-dwt bulk carrier Hong De (built 1996) on an as-is basis in the Indonesian port of Batam at $500 per ldt. That price includes sufficient bunkers on board for a delivery voyage to the Indian subcontinent.

While bulk carriers dominated demolition deals this week, container ships continued to trickle in with the reported sale of Euroseas-controlled 5,610-teu Akinada Bridge (built 2001) to Indian recyclers at $596 per ldt, or $14.5m. The price was said to reflect the ship’s high specifications. The Akinada Bridge’s automatic identification system was broadcasting on Tuesday that it was en route to Alang from Indonesia, with its arrival scheduled for 5 January. The ship was until recently chartered to Zim.