MSC torches boxship

Mediterranean Shipping Company (MSC) appears to have parted ways with another ageing containership.

Market sources say the carrier will walk away with nearly $5.5m after selling the 1,438-teu MSC Hina (built 1984) for recycling.

According to GMS, which bills itself as the world’s largest cash buyer, the unit fetched $502 per ldt and will be torched in India.

In a note to clients the company described the rate as “firm” but noted that prices are starting to slide as the Southeast Asian scrap market prepares for monsoon season.

Attempts to reach MSC for comment about reports that it sold the aeging handy for recycling were not immediately successful at the time of writing Monday.