THE Chinese ship-breaking group, Shanghai Foreign Trade, has resold the Capesize bulk carrier Marra Mamba just as the ship was destined to go to the scrap-heap.
This has led to the vessel, which is thought to be in port at Hong Kong, becoming the focus of fierce criticism from the previous owners, Australia's Broken Hill Proprietary (BHP).
The vessel was sold to Greek interests for further trading along with another ageing Capesize vessel called the Steel Glory, which had also attracted interest from the scrap-yards.
The sales, which come at a time when rates for Capesize ships have been surging, follow a spate of sinkings of older Capesizes which has sparked concern about the safety of the bulker type.
BHP, which is one of the worlds biggest charterers, sold the Marra Mamba in June for US$3 million to the Chinese ship breaker. It has threatened to blacklist the vessel and has also called on its customers to avoid chartering the vessel.
The 1975-built, 116,294-dwt Marra Mamba is understood to have been sold to interests associated with the Greek Efshipping group, run by Theodore and Angelos Efstathiou.
