News / Another 100+ panamax box ships must be scrapped to boost charter rates

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At least 100 panamax-class containerships need to be scrapped if owners are to see charter rates return to break-even levels, shipping analyst Alphaliner said today.

More than any other class of container vessel, the classic panamax – ships of 4,000-5,100 teu – has struggled with severe overcapacity in the months following the enlargement of the Panama Canal.

Despite the fact that 130 panamax ships have been scrapped since 20009, including 44 in just the last four months, and that charter rates of $4,000-$4,350 a day ...