Containership demolition sales fall to 17-year low in 2022

Containeship demolition sales fell to a 17-year low in 2022, with only six fully cellular container vessels for a total capacity of 10,904 teu sold to recyclers, the weakest level since 2005.

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Recycling sales in 2022 were lower than the 16,500 teu scrapped in 2021, an already poor year, and a far cry from the nearly 200,000 teu recycled two years earlier in 2020. The record years of 2016 and 2017 saw respectively 655,000 and 417,000 teu of tonnage torched.

The main reason for the demolition lull in ’22 was the highly remunerative charter and freight markets which until the summer prompted both NOOs & liner operators to keep trading their older vessels and steer clear of the recycling scene despite demolition prices.

Source: Alphaliner

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