?09 scrapped capacity nears 185,000 TEUs

Æ09 scrapped capacity nears 185,000 TEUs    More than 300,000 TEUs of containership capacity could be scrapped during 2009, according to a report Monday from maritime information service AXS-Alphaliner.
   Nearly 185,000 TEUs were scrapped in the first half of the year, though scrapping is expected to slow down in the third quarter as carriers prepare for what they hope will be a peak season.
   Of the 94 vessels scrapped, 58 percent of capacity was carrier-owned and 42 percent from non-operating owners.
   The scrapping level has reached historic proportions, with AXS saying that 300,000 TEUs of scrapped capacity would be 10 times the norm.
   'MOL has been one of the most active in the market with eight ships scrapped so far this year with a total capacity of 24,000 TEUs,' AXS said. 'This included a trio that were less than 20 years old — MOL Ingenuity (built in 1992, 4,180 TEUs), MOL Thames (1990, 3,733 TEUs) and MOL Columbus (1991, 2,852 TEUs).
   'MSC has also consigned 10 ships to the scrap yard for a capacity of 16,000 TEUs, as it tries to dispose of older tonnage. Among large carriers, MSC has the largest proportion of elderly ships in its fleet, with 47 units aged 25 years or older. If MSC is to scrap all of these ships, it would remove a further 77,000 TEUs from the fleet. MSC has, however, a tradition of keeping its ships longer than other carriers, as these fully depreciated ships allow it to reduce costs on local feeder loops.'
   Next up is likely Evergreen Line, which announced it would scrap more than 30 ships built between 1983 and 1988 and ranging in size from 2,800 to 3,400 TEUs. The planned scrapped capacity represents 14 percent of the line's fleet, and it has no current orders for new ships.