Scrap buyer GMS dispute with Oldendorff Shipping

Scrap ship buyer GMS last year bought the 227K DWT capesize bulker M/V Beate Oldendorff for scrapping in India. GMS is now asking German Oldendorff Shipping discount on the price due to low scrap prices but Oldendorff is reluctant to renegotiate. Scrap capesize prices are currently between $235 per Light Wight Displacement Tonnage (LDT) and $240 per LDT.

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