The June opening of the new locks on the Panama Canal has displaced at least 120 panamax containerships, with another 30 to 40 expected to be made redundant before year's end, according to Alphaliner.
The upshot is that more containerships in the 4,000 to 5,300-teu range are in lay-up and many of those would likely need to be scrapped in order to right the market balance, the industry researcher added.
It
