Booming container market keeping old vessels alive

While the number of cargo ships set to be scrapped grows, carriers retain their old container vessels in order to benefit from sky-high freight rates, shows a report from VesselsValue.

Photo: PR / Maersk

The booming container market is keeping old vessels alive, shows a report by VesselsValue on ships sent to scrapping yards.

While the number of cargo vessels set for shipbreaking in the second half of the year has grown compared to the same period last year, the number of scrapped container ships is far lower.

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