A feeder ship owned by South Korean operator Sinokor has been sold for what was described as a “bullish” scrap price, as cash buyers bet on a revival of ship demolition in Bangladesh, says an article published on the loadstar.
State-controlled banksThe 1997-built 1,608 teu Xiumei Shanghai, chartered to Sinokor subsidiary Heung-A Line, was sold for $4.66m.
Major cash buyer Global Marketing Systems noted that the previously subdued Bangladeshi ship recycling...