MSC Expanding its Fleet With Vintage Vessels, Market Value Tops Scrap Value

Mediterranean Shipping Company (MSC), an Swiss-Italian market leader, is on shopping spree in scrap market scouting for vintage containerships put up for demolition.

MSC acquired Unity VI from Evergreen
MSC acquired Unity VI from Evergreen Photo: VesselFinder

This month, MSC took delivery of the 1999 5,652 teu MSC Unity VI, from Taiwanese company Evergreen. The vessel current market tops scrap value, so selling feels more natural selection for seller as well. This is not first time, either below list are some of purchase by MSC in recent time:

  • MSC Floriana VI and MSC Unific VI
    • Seller: Evergreen
    • Buyer: MSC
    • Context: Sold for a better price than demolition, compliant with the Hong Kong Convention.
    • Year: 2023
  • MSC Wind II
    • Seller: Ness Risan (Norwegian owner)
    • Buyer: MSC
    • Built: 1999
    • Purchase Price: $7 million
    • Scrap Value: $4.92 million
    • Year: January (2024)
  • MSC Tia V
    • Seller: Safetrans (Russia-focused Chinese operator)
    • Buyer: MSC
    • Built: 2002
    • Purchase Price: Undisclosed
    • Market Value: $18.69 million
    • Scrap Value: $10.64 million
    • Year: January (2024)
  • MSC Jasmine X, MSC Denisse X, MSC Nicole X, MSC Chiara X
    • Seller: Maersk
    • Buyer: MSC
    • Built: 2000
    • Purchase Price: $30 million each
    • Scrap Value: $20.77 million each
    • Year: May (2024)

Not only this, last week Alphaliner’s report said that, in the first two quarters of the year, only 34 vessels of 48,600 teu had been recycled, which is less than the 77,000 teu scrapped in the same period last year.