GREEK Euroseas has opted to send one of its oldest containerships for demolition, the US-listed company has confirmed, reports TradeWinds.
The owner said the 2,228-TEU Tiger Bridge (built 1990) had been sold to an unaffiliated third party for recycling.
The Aristides Pittas-led company said it will deliver the ship to buyers by November 16. Shipbrokers say the 8,595-ldt (light displacement ton) ship went to Bangladesh for around US$340 per ldt netting the shipowner around $2.9 million.
The vessel has recently completed a six-month charter at $7,500 per day, according to Euroseas.
Euroseas still has two more containerships of the same vintage as the Tiger Bridge, the 1,169-TEU Ninos and the 1,932-TEU Despina P (both built 1990).
The decision to scrap the ship comes as idle containership capacity reached a 2015 high of around 800,000-TEU in early October, according to reported figures.
This represents four per cent of the total fleet capacity, the highest proportion since March 2014, according to Clarksons Research.
The increase in recent months has been seen across vessel sizes and reflects weaker ship demand which has become particularly pronounced in the wake of the peak container shipping season.
Euroseas has 15 ships - four panamax dry bulkers and one handymax dry bulker, three mid-sized containerships, five handysize containerships and two feeder boxships. Euroseas five dry bulkers of 338,540 dwt and 10 box ships of 17,587 TEU.
SHIP RECYCLING
23 October 2015 - 03:34
Euroseas scraps 2,228-TEU Tiger Bridge containership for $2.9 million
GREEK Euroseas has opted to send one of its oldest containerships for demolition, the US-listed company has confirmed, reports TradeWinds.
SHIP RECYCLING
23 October 2015 - 03:34
Euroseas scraps 2,228-TEU Tiger Bridge containership for $2.9 million
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