Greeks have been steering clear from the scrap yards this year and the recent demolition sale of the 2,174-teu Stride (built 1997) marks no change to that trend.
The deal to offload the boxship to a local US-based buyer was borne out of necessity. The 27-year-old vessel was a total loss after a fire broke out on board three months ago in Houston.
Two seafarers were killed when a blaze erupted in the ship’s engine room during a cargo operation at the Barbours Container Terminal.
Danaos did not operate the vessel, which was in service with Cosco Shipping Lines at the time.
Brokers attribute the vessel’s below-average price of $120 per ldt, approximately $1.07m, to its unique circumstances and location.
VesselsValue estimates the ship’s actual scrap value at a much higher $4.76m.
Danaos, however, has not incurred a loss from the transaction, as it has obtained an insurance payout related to the fire incident.
The Stride becomes just the third Greek-owned ship to be sold for scrap so far in 2024, according to TradeWinds data.
The other two were Chartworld’s 1,837-teu MSC Uma (built 1998) and Mega Shipping Line’s 43,200-dwt bulker Konstantinos (built 1995).
The Stride had been one of the five oldest vessels in US-listed Danaos’ fleet of six boxships — all built in 1997.
Another two sister ships of the Stride, the Advance and Sprinter, are operated by Cosco as well.
Danaos has begun to expand its fleet with newbuildings. Earlier this month, it took delivery from Shanhaiguan Shipbuilding of the scrubber-fitted and methanol-ready 7,100-teu Interasia Accelerate (ex-Hull No C7100-7).
This is the first in a series of newbuildings commissioned by the John Coustas-controlled company.
