By Mike Wackett (The Loadstar) - With the containership charter market in the doldrums, demolition sales have picked up, with reports of a number of vessel sales. Among them is the 1998-built 9,600 teu Sine Maersk (pictured above), which has been sold to Turkish breakers and will become the largest containership ever sent for recycling. According to vesselsvalue.com, the … [Read more...]
Scrapyards Set for New Wave of Containership Demolition as Idle Fleet Grows
By Mike Wackett (The Loadstar) - Demolition markets in the Indian subcontinent have now largely reopened and are preparing for a new wave of containerships for scrapping. According to London-based shipbroker Braemar ACM, just 14 have been demolished so far this year, compared with 58 ships by the same time in 2019. However, due to the pandemic, there have been reports of … [Read more...]
Drewry Says Scrapping Younger Containerships Will Help Rebalance Supply and Demand
By Mike Wackett (The Loadstar) - Drewry has urged containership owners planning to scrap older vessels this year to “get a move on”. The number of vessels scrapped last year fell to an eight-year low, adding to the overcapacity issues blighting the liner industry and the maritime consultant said: “It would certainly help the supply-demand balance if more at the top end of … [Read more...]
Containership Scrapping Gathers Pace Ahead of IMO 2020
By Mike Wackett (The Loadstar) - In the last 30 days, 23 container vessels have been sold for scrap – nearly half the number sent to breakers’ yards in the past year. According to data supplied by shipbroker Braemar ACM, so far this year 52 containerships, equating to 94,000 teu, have been sold for demolition, compared with 141, for 398,500 teu, in the same period last … [Read more...]
Scrapping May Make Comeback as Smaller Containerships Lose Their Appeal
By Mike Wackett (The Loadstar) - Non-operating owners of ageing gas-guzzling small containerships are likely to renew their interest in scrapping as the charter market makes an unexpected U-turn. The latest idle tonnage report by Alphaliner records 131 ships of 500-5,100 teu in hot or cold lay-up seeking employment, compared with just 56 in February. The consultant notes … [Read more...]