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Container carriers scrapping younger and bigger ships

The past two years have been remarkable in terms of scrapping, as shipowners in 2016 set a new record for tonnage scrapped. And the ships were younger and bigger, writes SeaIntel in a new analysis. But a shift could be underway.

Photo: GMS

While several of the biggest liner companies, such as MSC and CMA CGM, have in recent years signed orders for new, large vessels, the shipbreaking facilities have been working to get rid of end-of-life vessels.

A new analysis from SeaIntel describes the past two years as exceptional when looking at developments in the scrapping of container ships. The crisis, which has characterized the past many years, has forced shipowners to change their view on fleet scrapping, as competition from the new, bigger and more fuel-efficient ships is intensifying.

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