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Odfjell Sells Ship for Recycling

Maritime Activity Reports, Inc.

January 11, 2010

Odfjell has entered into an agreement to sell the coated parcel tanker MT Bow Maasslot (38,039 dwt/built 1982) for recycling in India by the end of January 2010.
 
The sales price is close to the book value. The vessel has Green Passport and buyers undertake that the recycling yard shall submit a working plan corresponding to IMO guidelines for ship recycling.
 

The orderbook for U.S. dredgers is about $3B, and according to DCA CEO Bill Doyle, the incoming political administration could help this niche maritime sector continue its bull run.
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