Oslo - The global container shipping fleet is experiencing a significant recycling backlog, with estimates indicating a minimum overhang of 500 ships, equivalent to 1.8 million TEU, according to BIMCO.
“So far this year, only 10 container ships have been recycled, continuing a trend of low recycling activity since 2021. Many vessels are trading well beyond their usual recycling age,” said Niels Rasmussen, Chief Shipping Analyst at BIMCO.
The share of ships aged 20 years or older has risen sharply, from 16% at the start of 2020 to 24% currently—the highest proportion since the . . .
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