Advertisement

Container Ships: Not all ships make money

As newer and more efficient container ships enter service, older and less efficient vessels are being displaced, one such being the 1996-built Spinel (ex-APL Spinel), which has been sold for scrap by Diana Containerships of Greece.

Although the 18-year-old ship brought in $9.65 million from breakers, she had been purchased from APL by Diana for $30 million under a sale-lease back deal less than two years ago. It is thought that the Greek company suffered a loss of nearly $10.5 million on the transaction after figuring in the ship’s daily gross charter rate of $24,750 over a near two-year period.

Diana had previously sold three other ships following their redelivery from sale-lease-back agreements– Maersk Madrid, Maersk Malacca and Maersk Merlion – all of which have since gone for scrap, and at an estimated loss of nearly $37 million for Diana. JS

Ships Montly - January 2024

RNLI celebrates 200 years and over 146,000 lives saved

On Monday 4 March 2024 the Royal National Lifeboat Institution (RNLI) celebrated 200 years of saving lives at sea – thanks to volunteers giving...
Advertisement

Related articles

RNLI celebrates 200 years and over 146,000 lives saved

On Monday 4 March 2024 the Royal National Lifeboat Institution (RNLI) celebrated 200 years of saving lives at...

New cable layer joins Boskalis fleet following major conversion

In late February 2024 Dutch offshore services giant Boskalis commissioned its new cable-laying vessel (CLV) Boka Ocean following...

HAV Design contracted to design autonomous zero-emission ferries

On 1 March 2024 Norway-based HAV Design signed a contract to design and develop four newbuild, autonomous zero-emission...

Passengers stranded on Cruise Ship with mystery illness

The Norwegian Cruise Line ship Norwegian Dawn, on a 12-day cruise from Cape Town to Port Louis, was...