Courage Marine sells panamax for scrap

Dry bulk shipping firm Courage Marine has disposed a 1985-built, 67,000 dwt panamax Valour for about $5.07m to ship disposal firm Regal Pacific Industries, Seatrade Asia online reports. The bulk carrier is to be delivered for demolition between 5 to 15 April, and Regal Pacific has an option to cancel the memorandum of agreement if delivery of the vessel does not take place by 20 May. Courage Marine said the disposal provides “a good opportunity for the group to generate cash which is intended to be used for general working capital and for funding any future acquisition of vessels when suitable opportunities arise.”