Wednesday, Oct 26, 2016
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Owners boost scrapping of container vessels

NEW YORK — Shipowners scrapped the most container vessels in two years this month as they seek to revive cargo rates.

Vessels equivalent to 21,000 20-foot containers were scrapped, the most since November, 2009, according to Alphaliner, a Paris shipping-industry data provider. The dismantled ships were mostly those of maximum size to pass through the Panama Canal and included those as old as 19 years, Alphaliner said.

“Poor earnings prospects for such panamax ships will likely drive further demolition sales in 2012,” it said.

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