France's CMA CGM has upped the ante in the secondhand market with the acquisition of seven containerships from different shipowners.
The liner giant company is estimated to have spent over $110m for three more feeder containerships on top of four small boxships acquired recently from the German market.
CMA CGM is acquiring the 1,732-teu Viking Merlin (built 2014), one of five boxships in the fleet of Singapore-based Norse Shipholding, with delivery slated in January next year.
Directors of Norse's UK division declined to comment on reports that the vessel has been sold for between $33m and $35m.
But it points to a big profit for Roed family-controlled Norse, which last sold the 1,740-teu Elbella (ex-Viking Eagle, built 2006) four years ago for just $8.25m.
The ship is one of seven secondhand purchases that CMA CGM has acquired in recent days, according to brokers.
Boxship brace
CMA CGM has also picked up two 2,826-teu sisterships for a total of more than $80m.
The 2,826-teu Iseaco Horizon (built 2005) has been acquired from Singapore-based Iseaco Holdings for $41m to $42m, according to market reports.
That marks a fast turnaround for Iseaco, which acquired the vessel in September 2020 from Borealis Maritime for just $6.3m.
CMA CGM is also reported to be picking up the 2,826-teu Irenes Respect (built 2006) from Tsakos Shipping & Trading of Greece for around $43m.
Tsakos bought the ship five years ago as the Patricia Schulte for just about $7.8m.
The purchases come after CMA CGM emerged as having acquired four of six feeder vessels sold last week by Oslo-listed MPC Container Ships (MPCC).
These include the 1,036-teu Anne Sibum (built 2007), which has already been renamed CMA CGM Galicia.
Mediterranean Shipping Co (MSC) has continued its massive buying spree by acquiring two secondhand panamax vessels from Andreas Hadjiyiannis-controlled Cyprus Maritime.
The liner giant is reported to have purchased the 5,039-teu CSL Manhattan and CSL Santa Maria (both built 2005).
If confirmed — the owner was contacted — it would mark another hugely profitable deal for the shipowner as the vessels have an estimated worth of around $70m each, according to VesselsValue.
Both ships were acquired several years ago from the German market for a substantial discount.
The CSL Manhattan was acquired in 2014 for $14.5m and the CSL Santa Maria was purchased in 2017 for an even lower price of just $7.6m.
Liner operators remain the most active players in the containership sale-and-purchase market.
Carriers have purchased around 260 vessels just north of 1m teu previously owned by tonnage providers.
That lifts the MSC total number of purchase since August 2020 to 116 ships, according to Alphaliner.
Lines are buying ships as an alternative to paying exorbitant rates in the charter market.
That remains really high for short-term fixtures with CMA CGM paying $155,000 per day to take the 6,882-teu Cape Chronos (built 2015) for 40 to 50 days.
Late entrants to the market include Israeli operator Zim, which has acquired seven boxships in the past month.
