Euroseas confirms demolition of elderly handysize boxship

Euroseas confirms demolition of elderly handysize boxship

NASDAQ-listed Euroseas today confirmed it has sold its 23-year-old boxship Marinos (1,599 teu, built 1993) for demolition.

Earlier this week, brokers reported the 6,735-ldt ship was sold to Bangladeshi buyers for a price of $332/ldt or $2.24m in total. AIS data confirms the German-built vessel has arrived at Chittagong.

So far this year, 11 handy containerships have been sold for demolition, a reduction on the 20 vessels sold during the same period in 2014.

The live fleet of containerships between 1,250 teu and 1,999 teu currently stands at 733 vessels, with an average age of 12 years, according to data from VesselsValue.com (VV).

The orderbook stands at 75 such vessels or 14.8% of the live fleet. Of these newbuildings, 26 vessels are due for delivery in 2016 and the same number again in 2017, VV says.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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