Box Ships Inc (TEUFF)

[munhoi]

Allseas has been scrapping and selling some of their older out of date ships built prior to 2005 for above market values to the Chinese - he is finally dealing with China:

Bodouroglou's Allseas shrinks fleet further



The fleet controlled by Greek owner Michael Bodouroglou continues to shrink with the sale of a 15-year-old handysize bulker.

Sources say his Allseas Marine has sold the 28,400-dwt Voula Seas (built 2002) to a Chinese buyer for a firm $5.3m. VesselsValue says the Kanda-built ship is worth $4.3m. Allseas did not respond to requests for comment.

The vessel was bought as Destino Dos from Eastman Transport in October 2012 for $11m. Last year, it was laid up in Elefsina,