Gemini carriers cut back port calls on challenging southern India trade
Southern India’s ocean trade continues to be a challenging market for both Maersk and Hapag-Lloyd, ...
By Mike Wackett
Two hundred and one containerships and just under 700,000 container slots have been scrapped this year.
According to Braemar ACM, by 20 December, 699,000 teu of capacity had been sent for demolition. This compares with 187,500 teu in the whole of 2015.
The London shipbroker added that 32 vessels (102,000 teu) had been sold for scrap in just the past 30 days.
This rapid acceleration in containership demolition – particularly of panamax vessels, whose book values have plunged by over 60% this year to ...
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