In the containership industry, a landmark deal has occurred with the youngest ever containership sent for demolition by Rickmers Marine Trust. The vessel was a seven-year-old panamax boxship (4250 TEU, 2009 Blt, Built China). She is valued just above scrap at US$5.87m.
In 2016, the vessel fell 62 per cent in value. This year the average change in value in the containership sector is -26 per cent to put this figure in perspective. The main reason for this is that these vessels are becoming defunct now that the Panama Canal has been widened. Since two years before the first transit of the new locks which happened a couple of months ago, 2009 built Panamax containers dropped in value by two thirds.