Prosperity's final voyage
By the time you read this, the Prosperity, a small Polish-built containership, will have already completed its final journey, making the short trip from Dubai to India where the vessel will be stripped and have its parts sold for scrap.
Built in 1994 at the Stocznia Szczecin Nowa shipyard in Poland, the 1,102-teu Prosperity completed two decades of service for French shipping company CMA-CGM before being purchased by the Dubai Trading Agency in April of this year.
DTA Managing Director Muhammad Ali Lakhani, who has a keen eye for a good deal, says although he bought the vessel with the intention to keep it trading around the GCC region, falling freight rates and the opportunity to make a profit from its re-sale led to the decision to send the ship to India.
“She was a nice vessel; I actually intended to put her through drydocking. Unfortunately market conditions worsened and I had a great offer for her from India. Time is money in shipping and we can’t sit around waiting to see what happens,” said Ali.
He says the vessel fetched a very good fee despite the demo market remaining volatile, with prices being influenced by the Ramadan period slow-down, India’s monsoon season and even the results of India’s recent elections.
“Scrap prices have been volatile recently but it is a cycle and prices do fluctuate like this seasonally. Regardless, certain vessel types always command a premium in India; these being containers and tankers,” added Ali.
On its final day in Dubai, as it remained docked at Dubai’s Drydocks World, M&PME was given full access to the ship and a guided tour by Ali and the vessel’s captain.
We also had the opportunity to meet and chat with many of the crew, which included members from India and the Ukraine.
Here are some of the images captured by ITP photographer Rajesh Raghav of the Prosperity.