India Cements Ltd scrapped old bulk carrier

India Cements Ltd (ICL) sold 1983 built 41K DWT handymax bulk carrier M/V Chennai Jayam to Bangladesh Scrapyard for $290 per ldt. In 2007, India Cements Ltd (ICL) bought  M/V Chennai Jayam (ex M/V Effy N) for $30m from Greek Shipowner AM Nomikos. India Cements Ltd (ICL) fleet has 2001 built 52K DWT M/V Chennai Selvam. India Cements Ltd (ICL) will focus on spot chartering ships to transport coal and limestone to India.