Zodiac Maritime, which was last year renewing its capesize fleet, is selling for demolition as well.
Bocimar chief executive Benoit Timmermans says the 170,000-dwt Mineral Water (built 1999) has been sold and is set for demolition in India after fetching $280 per ldt, or $5.6m. It bought the vessel as Ingenious in 2007 for $64m.
Timmermans says all capesizes built before 2000 should be phased out of fleets unless they are under contract.
“Time
