Older freighters look set for the scrap heap as capacity oversupply looms
Aged freighters are destined for scrappage, with the raft of new orders set to hit ...
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With the news that Dubai-headquartered United Arab Shipping Company is aggressively expanding its fleet with the order of five 18,000teu and five 14,000teu vessels, Drewry takes a look at what effect this will have on the balance of power amongst the largest container lines. It proclaims the order the “first major challenge to the top players’ vessel capacity supremacy since Coscon and CSCL burst into the container market in the late 1990s”, with UASC’s fleet size predicted to increase by 60% when the final vessel is delivered in mid-2015. As a result, the Middle East will now have a player amongst the heavyweight operators.
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