By Mike Wackett

(The Loadstar)– The 4,546 teu 2006-built Viktoria Wulff (ex lover MSC Firenze) has actually ended up being the youngest containership to be cost scrap as panamax proprietors reduced their losses as well as desert work hopes in a hopelessly clinically depressed market.

Previously the document for the youngest boxship cost reusing stood at 13 years of ages.

The 10-year-old Viktoria Wulff, developed at Gdynia, had actually been hired by MSC as well as released on the provider’s Asia-Australasia solutions.

Brokers record that its German proprietors gotten $303 per LDT from breakers for the vessel “as is Shanghai”– ie, from the port where the ship is offered.

According to Alphaliner information, on 5 September there were 85 ‘classic’ Panamax ships of 4,000-5,100 teu idled, many in ‘hot lay-up’ looking for work instantly market. But the laid-up fleet is most likely to be swelled by around 25 even more Panamax vessels run by insolvent Hanjin Shipping, when they have actually been released as well as gone back to proprietors or repossessed by lending institutions.

Charter prices for Panamax ships have actually deteriorated even more in the previous month as well as are currently at regarding $4,500 a day, compared to virtually $15,000 in January 2015– that is if work can be discovered whatsoever.

The opening of the increased Panama Canal in June as well as the upsizing by service providers of ships making use of the river was the last nail in the casket for the previous workhorses of the transpacific profession lanes, as well as the increase of ex lover-Hanjin Panamax ships will definitely compromise the industry even more.

A South Korean personal bankruptcy court the other day gotten Hanjin to return ships it hires back to the proprietors, as well as to market as most of its very own ships as it can.

The relocation has actually been taken an indicator that Hanjin will certainly either go away entirely or end up being a much smaller sized firm.

Market problems have actually enhanced drivers’ placement. One container broker informed The Loadstar today that charterers were requiring “positioning” as well as “very flexible options”.

He claimed: “The owners have no alternative; they don’t like it, but if they want a contribution to their operating costs they have to bend over backwards for the charterer.”

The alarming circumstance for non-operating proprietors of panamax containerships has actually led to Singapore- based Rickmers Maritime Trust dealing with liquidation as it is incapable to service its ship home mortgages. Rickmers has a fleet of 16 3,450-5,000 teu vessels, just 5 of which are presently chosen time charters over of one year.

Meanwhile, according to information from London shipbroker Braemar ACM, the overall port capability of containerships destroyed or cost scrap thus far this year is rapid coming close to 500,000 teu.

To day, the variety of ships taped as ditched has actually gotten to 126, for 429,500 teu. In the entire of 2015, 60 vessels, for 116,500 teu, were cost reusing.

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