The fleet of the Monaco-based shipping company Gestion Maritime will shortly drop to 10 units. The aged bulk carrier Giovanni has been sold for scrap for a price of US$3.4m. It means some $330 for ldt, said Danilo Fumarola, CEO of the company. The ship will be probably routed to India.

"The sale was physiological for such an old ship that gave a big contribution to Gestion Maritime's activities in the last 13 years," Fumarola added.