Owners of small handysize bulkers and multipurpose (MPP) vessels are modifying their ships to be able to carry containers to cash in on sky-rocketing box rates.
The adaptations being made are mainly unsophisticated, in-hold modifications not needing the services of a shipyard or approval from classification societies.
"Container capacity is so scarce right now and freight rates are so extremely high that any serviceable ship that can accommodate a container is fair game," said...
