by Lloyd's List
6 September (lloyd's List) - CONTAINERSHIP sales transactions appear to have picked up since the annual summer slowdown in interest, but activity has been solely on smaller tonnage.
Meanwhile, the recycling of aged ships remains at low levels, as scrap pricing is well below prices obtainable from shipowners for further trading and containership values have risen following Red Sea avoidance since November.
Shipbrokers report that Mediterranean Shipping Co has concluded the purchase of two feeder segment units from tonnage providers.
They comprise the Schoeller Holdings-owned 2006-built, 1,440 teu, Cape Flint (IMO: 9347724) and the 25-year-old, Gerd Ritscher-controlled, 2,500 teu containership Jan Ritscher (IMO: 9179828).
No price was reported for either deal.
Alphaliner reports that MSC has purchased a “mind-blowing” 383 secondhand boxships since 2021. In addition to its latest acquisitions, MSC has taken delivery of six secondhand containerships since July of between 4,200 teu-5,300 teu. All of these were in excess of 20 years of age.
In the feedermax segment, brokers report that German non-operating owner NSB Niederelbe has sold its 25-year-old Buxfavourite (IMO: 9150212) for circa $10m.
The 2,464 teu, geared vessel is said to have been sold to an undisclosed Chinese buyer.
Meanwhile, Alphaliner reported that Norwegian tonnage provider MPC Container Ships has sold the 2008-built, 1,296 teu AS Fatima (IMO: 9437191) to undisclosed buyers for almost $12m.
Shipbroker Braemar reported that several deals were concluded, subject to contract, in the past two weeks for ships of below 1,500 teu. However, no details have come to light so far as the deals were concluded on private terms.
The recyling of aged containerships remains low with only four boxships sold for scrap since the end of July.
They comprise Maersk’s 1998-built 1,100 teu Alexander Maersk (IMO: 9164237), which was sold to Turkish recyclers and the 1996-built, 1,728 teu Y Glory (IMO: 9105970), which has gone to Indian breakers. Two China-owned 700 teu containerships were also recently sold to recyclers.
According to data tracked by Lloyd’s List Intelligence only some 66,600 teu of containership capacity has been removed from trading by ship recycling since January. This is amongst the lowest level of boxship scrapping, excepting only 2021 and 2022, in the past 20 years.
The gap between recycling pricing and secondhand containership values has been widening since the fourth quarter of 2023, with ship values rising while demand for recycled steel in major shipbuilding nations has fallen.
