'Peninsular Bay' to be scrapped
Post date: Apr 28, 2013 2:22:30 PM
While researching this report we stumbled upon an archived article on the BBC website from 1999 which reported that the Peninsular bay was to be the first of 50 vessels returning to the UK registry following changes to the UK's maritime tax laws:
The former P&O Containers/P&O Nedlloyd containership Peninsular Bay is heading for a scrapyard in India...
The 4,038 TEU vessel, built in Japan by Ishikawajima Harima H.I.Kure and launched in 1989 had been renamed Maersk Madrid when A.P.Moller-Maersk took over P&O Nedlloyd in 2005/2006. In 2011 she was sold by Maersk to Diana Containerships on a lease-back deal.
The two year charter back to Maersk Line has come to an end and according to press reports the reason for the disposal for demolition is weak market conditions.
Former P&O Containers' staff will remember the Peninsular Bay and her sistership the Oriental Bay as the first of a new fleet of vessels which eventually replaced the Liverpool Bay Class, the ex-OCL Far East Trade TRIO ships.
See also:
Diana Containerships press release: Diana Containerships announces the sales of a post-panamax container vessel , the M/V Maersk Madrid
gCaptain news report #1: Diana Containerships: A Difficult But Necessary Decision to Scrap MAERSK MADRID
gCaptain news report #2: Diana Containerships – Lessons Learned From The Disposal of Maersk Madrid
Ship Scrapping Blog: Ship demolition report 15/4/2013
(BBC - Business: The Company File: P&O fly The flag again)
Less than 14 years after this article was written P&O no longer exists as a company quoted on the UK Stock Exchange, its 50% owned subsidiary P&O Nedlloyd is no more and the former Peninsular Bay is off hire from Maersk and no longer required by its Marshall islands-based owners, so it's on its way to an appointment with the cutting torch in Alang....