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Drewry: Only half as many ships scrapped in 2015

Container carriers are scrapping significantly fewer ships in 2015 than last year, primarily due to lower scrap prices and periodical surges in demand. But scrapping does not alleviate overcapacity on the main routes anyway, writes Drewry.

The hard-pressed container shipping companies have significantly reduced their scrapping pace in 2015 when compared to the same period last year.

In the first six months of the year, 47 container ships were sold for scrap, compared with 107 in the first half of 2014, which means that only 87,500 teu have been removed from a container market that is fast approaching 20 million teu due to the new giant ships flowing into the market, notes British analyst firm Drewry.

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