Evergreen Marine earns $30M from sale of 28-year-old Vintage Panamax Container Ship

TAIPEI : Evergreen has secured an impressive $30 million from the sale of the 1996-built, 5,364 TEU Ever United, which is scheduled to deliver charter-free later this month.

“This remarkable sale at a historically high level highlights the continued scarcity of tonnage in both larger and smaller segments on the charter market, driving a surge in secondhand pricing,” broker Braemar observed in a container market update today.

The buyer of the Mitsubishi Heavy-built Ever United has yet to be disclosed, but the sale underscores the current dynamics in the secondhand market, where strong pricing is impacting the ship recycling sector. Elevated demand for vintage tonnage has put pressure on ship recyclers, as competitive prices in the secondhand market reduce the incentive for owners to scrap older vessels.

Data from Clarksons Research reveals the trend: 235 ships, totaling 7.4 million dwt, have been sold in the year to date—representing a 20% decrease in tonnage compared to the 2022-23 average. Specifically, bulk carrier demolitions have dropped by 37%, and containership demolitions are down by 47%, further emphasizing the appeal of resale over recycling.