Is a ship over 20 years old a poor choice?

Seafarers often say that “the old ships were always the best,” but this sentiment usually comes after they have moved on to something more modern. However, there may be some truth to their words, as older ships often have a more relaxed atmosphere and less formality compared to newer vessels. Despite this, there has been criticism of the giant carrier MSC for operating more ships over 20 years old than any other containership operator. However, it is important to note that MSC also has a significant number of new, giant ships, representing a well-balanced fleet.

While many operators have been active in the second-hand market, few have accumulated as large a fleet of “used” ships as MSC. The purchase of older tonnage requires heavy technical expertise and experienced engineering staff to keep the ships running efficiently. The lifespan of a ship, particularly the 20-year mark, has been a topic of discussion, with different perspectives on when a ship is considered “old” and in need of replacement.

Despite the volatility of ship values and the influence of groupthink among analysts, well-maintained older ships can still be valuable assets for further trading, rather than candidates for recycling. Maintaining a well-balanced fleet with a mix of new and older vessels can provide owners with useful maneuverability in uncertain times. Ultimately, the decision to purchase older tonnage requires careful consideration of market conditions and the potential for long-term maintenance strategies.

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