Costamare boxship scrapped for $502 per ldt

Costamare boxship scrapped for $502 per ldt

Costamare has netted a very strong $502 per ldt in offloading a 20-year-old, 3,842 teu boxship to Indian breakers. The 15,864 ldt from the MSC Koroni gives Costamare just shy of $8m.

Brokers Braemar ACM explained that the ship had a very large 60 ton propeller, which accounted for the premium in the pricing. Braemar ACM still believes given the current spike in demo prices high $480s per ldt are achievable on a delivered basis today for a similar sized unit.

Brokers Intermodal stated in its most recent weekly report: “Expectations for the last quarter of the year that have been building up since the end of the summer together with this recent somewhat unexpected spike, have given even more confidence to cash buyers in most demo destinations to start positioning themselves in the market with purchases of higher ldt vessels that could result into substantial margins for them if the market performs as expected throughout the end of 2018.”

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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