South Korean shipowner and operator Sinokor Merchant Marine sold 1992 built vintage ore carrier 243K DWT MV Atlantic Merchant for demolition in Bangladesh, for around $405 per ldt (lightweight displacement tonnage) or around $15 million.
In September 2012, Sinokor Merchant Marine acquired MV Atlantic Merchant (ex MV General) for around $12 million from HOSCO (Hebei Ocean Shipping Co). In April 2019, Sinokor Merchant Marine sold 1999 built capesize bulk carrier the 171K DWT MV Silver Geneva for demolition for about $475 per ldt (lightweight displacement tonnage). At the beginning of August, Sinokor Merchant Marine tried to sell three (3) container-ships for demolition, but the deal has not gone through yet.
Korean shipowner and operator Sinokor Merchant Marine acquired 7 capesize dry bulk carriers in two en-bloc transactions. Korean shipowner and operator Sinokor Merchant Marine acquired 3 scrubber-fitted capesize dry bulk carrier resales under construction at Jiangsu Yangzi Xinfu Shipyard in China for delivery in late 2019 and 2020 for a price tag of $50 million each. Korean shipowner and operator Sinokor Merchant Marine is also being mentioned in connection with the purchase of 4 trading capesize dry bulk carriers 2012 built 176K DWT MV Stella Charlene, 176K DWT MV Stella Flora, 180K DWT MV Stella Annabel, and 180K DWT MV Stella Anita from Singapore based shipowner and operator Cara Shipping. Korean shipowner and operator Sinokor Merchant Marine also ordered two 208K DWT dry bulk carrier new-buildings at Shanghai Waigaoqiao Shipbuilding (SWS) in China for 2020 delivery.
Korean shipowner and operator Sinokor Merchant Marine continues to be active in the demolition market. Sinokor Merchant Marine sold a capesize dry bulk carrier and an aframax tanker. Sinokor Merchant Marine sold 1995 built 170K DWT MV Chokang Sunrise for $480 per ldt or $10.2 million. Sinokor Merchant Marine sold 1998 built 105K DWT MT Pacific Pioneer (ex MT Cape Avila) for $455 per ldt, or $7.5 million. In early 2018, Korean shipowner and operator Sinokor Merchant Marine sold 1999 built 300K DWT MV Plata Pioneer for $440 per ldt.
South Korean shipowner and operator Sinokor Merchant Marine Co. Ltd. send demolition 1999 built capsize dry bulk carrier 17OK DWT M/V Silver Voyager to Pakistan Scrapyard for $461 per ldt or $9.4 million which is including includes 1,200 tons of bunkers. In 2012, South Korean shipowner and operator Sinokor Merchant Marine Co. bought M/V Silver Voyager (ex M/V Rubin Hope) for $15.3 million. In the first half of 2017, Sinokor Merchant Marine Co. Ltd. also sold 2 capesize dry bulk carriers 1995 built 161K DWT M/V Silver Express and 1994 built 151K DWT M/V Silver Ocean to demolition.
South Korean shipowner and operator Sinokor Merchant Marine is selling 1995 built capesize dry bulk carrier 161K DWT M/V Silver Express for demolition for $428 per ldt to Pakistan scrap yard. In 2012, Sinokor Merchant Marine bought capesize dry bulk carrier M/V Silver Express (ex M/V Aquabella) from Greek shipowner and operator Carras for $11.2 million. In 2017, demolition of capesize dry bulk carriers has become a scarcity, and Pakistan is not able to take tankers for scrap but only dry bulk carriers.
Korean Sinokor Merchant Marine sold capesize bulker 150K DWT MV Silver Trade built 1996 for demolition for $300 per ldt (Lightweight Displacement Tonnage) which is about $5 million to an Indian scrapyard. In 2011 Korean Sinokor Merchant Marine bought this cape size bulk carrier for $18m from George Economou’s DryShips. Three months ago, Korean Sinokor Merchant Marine also sold cape size bulk carrier 158K DWT MV Silver Master (built 1996) for scrap. In 2015, a total of 96 cape size bulk carriers sold for demolition. In 2016, up to now, 46 cape size bulk carriers sold for demolition.