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‘Massive’ surplus of midsize container ships coming: Drewry

From the Journal of Commerce:

The opening of the enlarged Panama Canal at the end of 2015 likely will trigger a “massive” surplus of 4,000- to 5,000-TEU container ships, many of which will have to be scrapped regardless of their age, according to Drewry Maritime Research.

After its locks are enlarged, the waterway, which currently can only handle so-called Panamax ships up to 5,000 TEUs, will allow the transit of vessels up to 14,500 TEUs.

More at the JOC

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