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Boxship owners send record 700,000 slots for scrap in 2016

Boxship owners send record 700,000 slots for scrap in 2016

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Latest statistics from brokers Braemar ACM show that container scrapping has accelerated dramatically in recent weeks with the 700,000 container slot mark likely to have been broken before the end of the year.

As of December 20, a total of 699,000 teu (201 ships) had been sent for scrap, smashing all records. By comparison, 187,500 slots were sold for recycling in 2015.

Splash understands German companies have been the most keen to scrap ships, especially given their strong share of panamax boxships – a subsector that has dropped in value dramatically this year.

Braemar ACM is reporting that in the 30 days from November 21 to December 20 32 ships equating to 102,000 teu were sold for scrap.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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