Marine Link
Wednesday, December 7, 2016

Youngest Containership Sold for Scrap

November 25, 2016

landmark boxship scrap sale Image courtesy Vessel Values

landmark boxship scrap sale Image courtesy Vessel Values

Today in the containership industry a landmark deal has occurred with the youngest ever containership sent for demolition by Rickmers Marine Trust. The vessel was a seven year old panamax boxship (4250 TEU, 2009 Blt, Built China). She is valued just above scrap at USD 5.87m. In 2016 the vessel fell 62% in value. This year the average change in value in the containership sector is -26% to put this figure in perspective. The main reason for this is that these vessels are becoming defunct now that the Panama Canal has been widened. Since 2 years before the first transit of the new locks which happened a couple of months ago, 2009 built Panamax containers dropped in value by two thirds.
 

Youngest containership demolition age

   

Year

Youngest ship sent for demolition

2009

24

2010

23

2011

19

2012

12

2013

14

2014

14

2015

13

2016

7

 

 

Rickmers Marine Trust

 
   

Live Fleet

USD 88.69 million

Demo Value

USD 87.68 million

   

Vessels

16 Panamax Containerships

Average age

8 years

 

5 vessels on LT charter to Mitsui OSK

6 vessels trading in spot market

5 vessels decommissioned - sat off Batu Pahat, Malaysia

(Erwin Rickmers, Sabine Rickmers, Maja Rickmers, Kaethe C Rickmers, Laranna Rickmers)

 

Container fleet breakdown

       
           

Type

Vessels

% of fleet

Total Size (TEU)

Average Size (TEU)

Fleet Value (USD Million)

CONTAINERSHIP

5,346

13%

23,830,764

4,458

102,298

ULCV

310

6%

5,031,706

16,231

34,402

NEW PANAMAX CONT

233

4%

2,714,519

11,650

17,241

POST PANAMAX CONT

1,190

22%

8,337,538

7,006

28,387

PANAMAX CONT

829

16%

3,480,457

4,198

5,355

SUB PANAMAX CONT

711

13%

1,798,152

2,529

6,483

HANDY CONTAINER

827

16%

1,350,141

1,633

5,336

FEEDERMAX

1,246

23%

1,118,251

897

5,094

 

 

 



 
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