The vessel, delivered from a yard in China earlier this year, ran aground on July 12 after hitting the Durand Reefs, near New Caledonia in the Pacific Ocean.
Buffeted by fierce weather the ship's structural condition deteriorated dramatically making salvage work very difficult.
All fuel had been siphoned off the ship and most of the containers had been offloaded. However, local media report a few boxes have been seen floating near the wrecked vessel.
Last month, Lomar Shipping had already conceded that the boxship will have to be scrapped.