Only 12 containerships with a total capacity of 8,465 teu have been scrapped so far this year, with a further 6 ships lost at sea or converted to other usage.
However, there are numerous candidates for removal from service, which in our view are older vessels facing substantial capital expenditure. Currently, 52 ships totaling 98,882 TEU are over 25 years old and due for special survey.
Notwithstanding the low level of vessel deletions recorded so far this year, a larger challenge lies ahead a