G2 Ocean has sold another ageing open-hatch cargo vessel for recycling as the company continues its fleet modernisation programme. The 1996-built Mandarin Arrow has been sold to ship recyclers at Alang, India, making it the fifth G2 Ocean-operated vessel sent for demolition in 2026.
The latest recycling sale follows the disposal of several older vessels as G2 Ocean renews its fleet and increases its focus on newer, more efficient ships. The company is simultaneously investing in new tonnage, including 10 new 82,300-dwt vessels scheduled for delivery between 2026 and 2029.
G2 Ocean is also adding six new open-hatch gantry-crane vessels to its fleet from 2029. The new ships are intended to strengthen capacity between the company’s larger 72,000-dwt vessels and smaller 36,000-55,000-dwt units.
The fleet renewal programme comes as the open-hatch operator seeks to improve operational flexibility and provide more efficient and sustainable cargo solutions. The new vessels will also feature designs prepared for alternative fuels, including ammonia and methanol.
The recycling of Mandarin Arrow highlights the company’s strategy of replacing older tonnage with newer-generation vessels, even as relatively firm dry-cargo freight markets can discourage owners from sending ageing ships for demolition.