Latest statistics from brokers Braemar ACM show that container scrapping has accelerated dramatically in recent weeks with the 700,000 container slot mark likely to have been broken before the end of the year.

As of December 20, a total of 699,000 teu (201 ships) had been sent for scrap, smashing all records. By comparison, 187,500 slots were sold for recycling in 2015.

Splash understands German companies have been the most keen to scrap ships, especially given their strong share of panamax boxships – a subsector that has dropped in value dramatically this year.

Braemar ACM is reporting that in the 30 days from November 21 to December 20 32 ships equating to 102,000 teu were sold for scrap.