Containership owners see billions wiped off the value of their fleets
Overcapacity on main trades depresses vessel value as well as freight and charter rates
(NEWS ARTICLE - EXCERPT) - Massive overcapacity has squeezed not only freight rates, but also the worth of steel on the water, the latest service from VesselsValue.com shows.
The world’s largest boxship owner, AP Møller-Maersk, has seen the value of its containership fleet fall 24% in the past 12 months. Its 222 vessels currently in service are now worth US$9.1 billion, compared with $12 billion at the start of November last year.
Similarly, major owner and operator MSC’s fleet of 202 containerships in service at present are worth $6.9 billion, compared with $8.4 billion 12 months ago.
Read the rest of the article at IFW
