The number of container ships sold in the secondhand sale and purchase market dropped by nearly 50% last year.

Some 295 vessels — a total of 950,300 teu — were sold in 2022, according to Alphaliner.

That is down from a record 2.04m teu in 2021.

The fall was driven by a sharp drop in buyers’ interest in the final quarter of the year.

Buying activity was dominated by major European carriers and end-users.

Geneva-based Mediterranean Shipping Co (MSC) and French operator CMA CGM together accounted for more than 50% of the deals by capacity.

The analyst estimates that MSC alone accounted for 44% of the teu capacity sold, totalling 92 vessels (420,000 teu).

CMA CGM was the next most active with 31 ships — a total of 102,500 teu.

No NOO’s

Leading non-operating owners (NOO) were practically absent from the market towards the end of the year, Alphaliner said.

The only exception was Oslo-listed SFL, which purchased a pair of 2,500-teu feeders from Goto Shipping in September.

The largest number of boxship sales were in the 15 to 19-year age bracket.

Buyers were pushed towards older tonnage due to the absence of younger candidates, Alphaliner said.

More than 55% of all sales involve ships of 15 years or older.

The number of units in the 15 to 19-year age bracket accounted for 36% of transactions.

The fall in buying interest is expected to remain until after the Chinese New Year, although MSC and smaller players are still chasing feeder tonnage, Alphaliner said.

The analyst anticipates that overcapacity, triggered by a huge orderbook, will keep prices under pressure.

That could present opportunities for regional carriers and NOOs previously shut out of the market by high prices, it concluded.