Greek Pitiousa Shipping sold 1997 China built 26K DWT MV Filia Grace and MV Filia Faith sold for around $4 million in total to Lebanese shipowner. MV Filia Grace renamed as MV Prince Hadi and M/V Filia Faith renamed as M/V Prince Haroun. Currently, MV Filia Grace and MV Filia Faith scrap value is apparently around $2 million. Greek Pitiousa Shipping has made an extensive fleet renewal in Chinese Shipyards.
Greek shipowners have thrown 1990s-built vessels into the sales-and-purchase (S&P) market in the hope of divesting them for further trading before considering more radical solutions like scrapping or lay up. Saint Michael Shipping is trying to sell MV Makra 45K DWT built 1994). Another Greek shipowner, Pitiousa Shipping, has put MV Filia Faith 26K DWT (built 1997) for sale. If the market remains depressed, buyers will even stop looking at vessels above 10 years old.