State-owned operator China Merchants Energy Shipping (CMES) announced that a subsidiary of the company had signed sale contract with Jiangmen Zhongxin Shipbreaking & Steel to scrap one 43,400dwt old bulk carrier at a price of RMB10.28m.

The 21 years old bulker, Ming Shen, was built by Japanese shipyard Oshima Shipbuilding in 1993.

CMES has sold several bulk carriers recently to further optimize the fleet structure of the company, with 12 new bulkers under construction to be delivered between late 2015 and the second quarter of 2016.