News / Boxship oversupply will kickstart demolition, says veteran Taiwan forwarder

David Yen. Credit: T3EX

There will be a resumption of containership demolition next year as supply exceeds demand, predicted David Yen, founding chairman of T3EX Global Holdings, Taiwan’s only publicly listed forwarder.

This year so far, none has been scrapped, compared with 16 boxships last year and 2020, with total capacity of 16,500 teu and 194,000 teu, respectively.

At an industry conference last week, Mr Yen projected that while container shipping demand would grow between 2.6% and 2.9% next year, this would be outstripped by supply, ...