Just as the coronavirus bonanza was fizzling out, the Red Sea crisis provided new impetus to container shipping earnings.
That fresh tonne-mile boost, however, is a double-edged sword for the industry, argues major Greek owner Nikolas Pateras: it has breathed new life into over-aged ships that belong to the scrap yard.
The issue is particularly acute in the feeder ship corner of the container market in which Contships is active.
