Maersk Line to scrap eight Panamax vessels

Ship recyclers in India and China will recycle eight vessels owned by Maersk Line. The ship recyclers have agreed in full to the A.P. Moller – Maersk Responsible Ship Recycling Standard. The deal gives Maersk Line greater fleet flexibility and vessels will be transferred to the recycling yards within coming months.

In November, Maersk Line and Maersk Transport & Logistics Sustainability selected five ship recycling facilities in China and India for a tender to recycle eight Panamax vessels. All ship recyclers agreed to the A.P. Moller – Maersk Responsible Ship Recycling Standard as a prerequisite to enter the tender.

In the coming years, Maersk Line expects to recycle a larger number of vessels than in previous years as more vessels are coming to their economical end of life. With Maersk Line’s fleet of more than 600 vessels, owned and chartered, any decision to recycle depends on a broad set of variables – not least the state of the market.

“These vessels represent roughly 1% of our fleet, so this is a small but meaningful capacity reduction, which will contribute to achieving a better balance between supply and demand for Maersk Line” says Maersk Line COO, Søren Toft.

Source: Maersk Group

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