Precious Shipping has confirmed it has scrapped another bulk carrier, which will be the 11th vessel sold for recycling by the Thai owner this year and the third this week.

The sale of the handysize  Parinda Naree (23,720 dwt, built 1995) was agreed with the buyer on Aug. 2 at a price of US$1.29m, Precious said in an exchange filing. The vessel was delivered on Tuesday this week.

The confirmed price is equivalent to approximately US$270/ldt for the 4,774-ldt vessel, which the owner said is in line with market pricing.

Earlier this month, brokers reported that Parinda Naree had been sold to breakers in India. Its last AIS signal, recorded on Aug. 11, showed the vessel at anchor off the coast of Mumbai.

Precious said that its strategy is "to rejuvenate its fleet by selling its older vessels and acquiring younger and bigger vessels".