Elderly boxships still in service but scrapping should rebound when Red Sea reopens
Disruptions and strong demand have heavily curtailed scrapping, keeping almost 1,500 containerships in service that are 20 or more years old
The one-two punch of the pandemic and the Red Sea crisis has kept vintage box tonnage on the water. The question ahead is: Could a ceasefire in the Middle East and an eventual return to the Suez route finally open up the floodgates for containership recycling?
