Boxships set for 2014 scrapping record

Why are box ships being scrapped?  I think it’s because the new ones are larger and much more efficient.  And with the rules on fuel use changing, and bunker rising, shipowners need the most efficient carriers they can get.  It seems according to the article that new building is still outpacing scrapped tonnage.

Boxships set for 2014 scrapping record | Shipping Tribune.

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