Athens, Greece-based containership lessor Diana Containerships has sold the M/V Angeles, formerly on charter to Taiwanese ocean carrier Yang Ming, to an unnamed demolition yard for $6.69 million before commissions, the company said.
Diana Containerships Inc. has confirmed the sale of the M/V Angeles, the youngest containership ever sold for scrap.
The Athens, Greece-based containership lessor sold the 2006-built Angeles, formerly on charter to Taiwanese ocean carrier Yang Ming as the YM Los Angeles, to an unnamed demolition yard for $6.69 million before commissions, it said in a statement.
Built by Koyo Dockyard in Hiroshima, Japan and delivered in December 2006, the 5,500-TEU Angeles most recently served on Yang Ming’s joint Asia-South America ASA/WS2 service with Wan Hai, Pacific International Lines (PIL), Evergreen and COSCO.
The ASA/WS2 operates with 10 vessels – four from Wan Hai, three from PIL, and one each from COSCO, Evergreen and Yang Ming – with an average capacity of 4,574 TEUs, according to ocean carrier scheduled and capacity database BlueWater Reporting. The loop has a full port rotation of Kaohsiung, Shekou, Hong Kong, Ningbo, Shanghai, Manzanillo (MX), Lazaro Cardenas (MX), Puerto Quetzal, Buenaventura, Guayaquil/Puerto Bolivar, Callao, Paita, Manzanillo (MX), Busan and Kaohsiung.
The sale of the Angeles brings Diana Containerships’ total fleet down to 12 container vessels, including six post-Panamax ships and six Panamax vessels.
The decision to scrap such a young vessel continues a trend set by other vessel owners like Seaspan Corp., which has been scrapping younger and younger containerships as excess capacity continues to drag on freight rates and carrier profitability.
Diana confirms scrapping of youngest containership ever
