MOL plans to lay-up or scrap 10-20 bulkers

Transportation

Wednesday, June 13, 2012

MOL said it will scrap or put into cold lay-up 10 to 20 capesize dry bulk ships because of worsening market trends. The company scrapped four vessels and temporarily laid up 10 others last year. Until now, the company said it had scrapped capesize ships that were 23 years or older, but will now scrap ships that are 15 or older. MOL has plans to scrap five vessels by the end of March 2013 and is considering the disposal of others. Based on the current capes...

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