In its trawl for tonnage, MSC has been buying vintage containerships ripe for demolition as, thanks to firm freight rate levels, their market value convinces owners to sell rather than to scrap.
For example, this month, the Swiss-Italian market leader took delivery of the 1999 5,652 teu MSC Unity VI, from Taiwanese peer Evergreen. The ship has a current market value of $22.5m, whereas its scrap value is just $14.5m.
The purchase …
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