Containership demolition slowed 90pc between January and June
CONTAINERSHIP demolition has slowed down dramatically from 29 ships of 99,899 TEU in January to only seven small box ships in June despite loss-making conditions in the market, according to BIMCO (Baltic and International Maritime Council), the major shipowners' group.
Said BIMCO analyst Peter Sand: "The significant slowdown in demolition comes as no surprise. The magnitude, however is still striking."
The association's figures show 306,824 TEU has been scrapped this year, compared with the 450,000 TEU BIMCO projects for 2017.
"This is in line with our forecast that sees the second half of the year with continued fleet growth, low demolition activity and a slower demand growth than was seen in the first half," Mr Sand said.