3 April 2024 (Lloyd's List) - MEDITERRANEAN Shipping Company continues to dominate the secondhand containership market with brokers reporting that the world’s largest operator of boxships has purchased five vessels in the past week alone.
MSC has secured the 6,700 teu sister vessels Buxcliff (IMO: 9221815) and Buxcoast (IMO: 9221827) from German tonnage provider NSB Niederelbe Schiffahrtsgesellschaft in an en bloc deal for $45m, according to brokers.
The purchase of the 2001-built pair brings the total number of ships bought by MSC from this owner to eight vessels in the past year, said Alphaliner.
Buxcliff and Buxcoast were built by South Korea’s DSME for NSB against a long-term charter to CMA CGM, but have more recently been serving in the general charter market.
In March, MSC purchased the similarly sized 6,627 teu Paris II (IMO: 9222273) and Lyon II (IMO: 9222285), also from NSB, for $40m en bloc.
According to data tracked by Lloyd’s List, MSC has bought almost 60 secondhand containerships since January 2023 as it has a strategy to reduce its share of chartered tonnage.
The company is also said to have tied up deals in the past week to acquire the 2006-built, 2,800 teu Odysseus (IMO: 9315824) from Greek non-operating owner Cosmoship for $16m and a pair of 2,478 teu, 2004-built ships from Maersk.
Shipbroker Braemar reported an uptick in S&P activity and enquiries, with Chinese buyers continuing to try to acquire secondhand boxships for Red Sea trading.
It said that Chinese owners will only consider candidates with early delivery as they seek to take advantage of high Red Sea freight rates.
However, ships with early laycan dates are in short supply as tonnage providers have taken advantage of longer charter periods from major operators.
One broker reports that sellers are obtaining their desired prices for most candidates due to stronger demand for secondhand tonnage following Red Sea diversions.
Other recent secondhand sales included the resale of a 1,900 teu newbuilding to French operator Marfret.
According to Alphaliner, the vessel is part of a series ordered at China’s Guangzhou Wenchong Shipyard in 2023 by Germany’s Reederei Nord. Marfret is said to have purchased the ship for $30m for delivery in 2025.
