2010-Built Panamax Containership ‘Hammonia Grenada’ Sold for Scrap

MV Hammonia Grenada at a Singapore anchorage, January 11, 2016.
MV Hammonia Grenada at a Singapore anchorage, January 11, 2016.

Another 7-year-old panamax containership is headed to the breakers, all but solidifying the death of the panamax-class amid global shipping’s downturn and the opening of the expanded Panama Canal.

Sources familiar with the matter tell us that 2010-built, 4,250 teu M/V Hammonia Grenada has been sold for about $5.5 million.

The ship was spotted today in Singapore’s eastern anchorage.

The Hammonia Grenada was one of two identical ships delivered to its German owners, Hammonia Reederei GmbH, on January 15, 2010. The vessels were built at China‚Äôs Jiangsu New Yangzijiang. Both were initially on a 5-year charter by Compania Sud Americana de Vaproes S.A. (CSAV). More recently the Hammonia Grenada was on charter by Maersk Line lasting until November 2016.

If confirmed the Hommonia Grenada will be the youngest containership ever sold for scrap.

Records show the Hommonia Grenada is registered in Portugal. 

Last year, Singapore shipping trust Rickmers Maritime confirmed it also sold a 7-year-old panamax containership for scrap, the 2009-built India Rickmers, in order to pay down debt. The website VesselsValue.com valued the India Rickmers in November 2016, when rumors of its sale first began swirling, at just over scrap value at $5.87 million. The website estimated that its value fell 62% in 2016, primarily due to the widening of the Panama Canal.

Prior to that sale, the 2006-built panamax M/V Viktoria Wulff, was sold in September at the age of 10 after its German owner went bankrupt.

The Panama Canal opened to post-panamax ships in June 2016 following the completion of the long-awaited expansion project.