U-Ming sells elderly cape

U-Ming Marine’s fleet renewal plan is gathering pace. Last month U-Ming entered into a shipbuilding contract with Qingdao Beihai Shipbuilding for four 210,000 dwt bulkers. This week its 15-ship strong cape arm’s average age of four will be improved. Brokers tell Splash that is has let go of its oldest cape, the 18-year-old, 175, 900 …

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