The container shipping industry is plagued by overcapacity, especially seeing that container scrapping is becoming less popular among ship owners despite the downturn in freight rate levels.
Moreover, ordering spree, particularly for Ultra Large Container Carriers (ULCCs) is gaining momentum with shipping majors placing orders for 18,000 and 19, 000 TEU boxships.
In today’s infographic from VesselsValue, we see a decline in the number of ships being sent for scrap in 2015 when compared with the previous year, with only 48 ships being demolished compared to 118 in 2014.
Types of ships sent for scrap and their respective numbers for 2014 and 2015 are shown in detail in the image above.
World Maritime News Staff