ShippingWatch

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.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Nuclear startup hires profile from Maersk Drilling

Nuclear developer Seaborg recruits Maersk Drilling's strategy and business finance chief, Dominic Charnock, who served at Maersk since 2017, most recently as vice president. The new employer has the potential to help mitigate climate change and provide "energy fairness", says the newly appointed CFO.

Further reading

Related articles

Latest news

See all jobs