by Lloyd's List
CONTAINER line operators are continuing to buy up secondhand containerships from tonnage providers as the availability of chartered boxships remains limited.
“The sale and purchase market was very busy in the past fortnight, with multiple deals concluded or under negotiation. Contrary to previous weeks, transactions involved vessels of all sizes from 1,000 teu to 8,500 teu. The sub-1,000 teu segment was meanwhile quiet,” said Alphaliner.
It noted that, once again, the majority of ships were purchased by end users including the “usual buyers” Mediterranean Shipping Co and CMA CGM, as well as less frequent players like Ocean Network Express.
“Prices remain strong, with the market largely shrugging off negative developments in freight rates and rising concerns about overcapacity in the coming months,” said Alphaliner.
According to Alphaliner, MSC has purchased the 4,730 teu panamax Navios Magnolia (IMO: 9332250) from Greece’s Navios Maritime Holdings. The 2008-built boxship was purchased for circa $35m and is said to be under time charter to Cosco until the second half 2026.
The world’s largest container line has also picked up the geared feedermax Charm C (IMO: 9383259) for around $25m. The 2009-built, 2,500 teu, vessel has been purchased from Greek non-operating owner Cosmoship and is expected to enter service with MSC at the conclusion of an existing charter to Maersk in the first quarter of next year.
As an indication of the rise in containership values from late-2023, Cosmoship purchased the ship two years ago for only $13m.
Earlier last month. MSC bought the 1,440 teu, Schoeller Holdings-controlled Cape Franklin (IMO: 9359301) and Contships Management’s 1,100 teu Contship Oak (IMO: 9373917) for $18m and $11m respectively.
With its latest acquisitions, MSC has purchased a total of 43 secondhand boxships since January.
Meanwhile, Ocean Network Express has bought the 8,540 teu sister vessels OOCL Brazil (IMO: 9495038) and OOCL Durban (IMO: 9567673) from Japanese tonnage provider Nissen Kaiun.
Built in 2010 and 2011, respectively, they have been purchased for $155m en-bloc and will join the ONE fleet upon termination of their charters to Hong Kong’s OOCL at the end of 2026.
“With these acquisitions, ONE continues to selectively buy large, quality, secondhand container tonnage which becomes increasingly hard to find in the charter market,” said Alphaliner.
In May this year, ONE bought the 6,350 teu, 2010-built One San Diego (IMO: 9560376), while in late-2024 it purchased the 9,040 teu, 2007-built One Harbour (IMO: 9302152).
Both ships were bought from Japanese tonnage providers.
Shipbroker Braemar reports that sellers’ pricing ideas are currently deterring the majority of buyers.
“Although a number of buyers are circling the few ships coming to market, the delta between the top buyer and the underbidders has widened in recent months, with very few willing to match the highest prices,” noted Braemar.
It reports that French container line CMA CGM has purchased the Japanese-controlled, 2020-built, 1,952 teu, CNC Jupiter (IMO: 9836672) and the 2014-built, 1,756 teu Nordpanther (IMO: 9673654).
The former vessel is understood to have been bought for around $35m, while the smaller ship is said to have been purchased for circa $27.5m. Both vessels already operate for CMA CGM under time charter.
