Ageing beauty leaving as new performer is born
mv OCEAN BEAUTY to be disposed of as new ship enters service


STX Pan Ocean have recently concluded contracts that see one old vessel leave the fleet and a new one's construction ordered.

On 30th August they announced that they had reached agreement with Blue Field Shipbuilding of Korea for the sale of the handysize bulk carrier mv OCEAN BEAUTY.

The vessel will be sold at market price and the company say they are taking advantage of current bullish secondhand ship sales prices.

They said the vessel had low profitability and high maintenance costs. The vessel will be disposed of to the buyer in the second half of 2008

The following day they reached agreement with STX Shipbuilding for the construction of a Semi-Submergible Heavy Cargo Carrier, to be delivered around the time OCEAN BEAUTY is disposed of.

The new vessel will cost $50 million.

The 15,000 grt OCEAN BEAUTY was built in 1977