The Red Sea crisis and the higher freight and charter rates are discouraging owners from scrapping older boxships, resulting in a dearth of tonnage being sold for demolition, despite cash buyers offering higher prices.
While January saw 13 container ships of nearly 22,000 TEUs being torched, scrapping has slowed.
Just three boxships (MTT Singapore, MTT Tanjung Manis and Dong Fang Xing) were recycled in February and so far in March, just two container vessels (Far East Cheer and Mapocho) have been...
https://container-news.com/red-sea-challenges-lead-to-boxship-drought-for-recycling-yards/