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Bimco: Container ship scrapping tripled this year

In the first five months of 2016, the scrapping of container vessels has tripled compared to last year. This is a positive step for the hard-pressed dry bulk freight market.

Photo: Ritzau Scanpix/AP/Dimitri Messinis

The scrapping of container vessels has sped up in the first five months of the year when compared with the year prior.

This is a positive development for the struggling bulk market and it also shows that carriers are making the effort to redress the balance between supply and demand, says industry association Bimco, which stresses the need for increased action if the market is to improve under the difficult conditions.

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