Several small boxships sold before or during the lockdown period have ended up in the hands of German buyers.

They include Hamburg-based Okee Maritime, which has emerged as the new owner of the 1,732-teu Cape Nati (built 2009).

The vessel is the sixth containership bought by Okee, a six-year-old company with a growing fleet of feeder containerships bought cheaply on the secondhand market.

Opportunities

"It is a very challenging market during the coronavirus pandemic but, at the same time, it also creates opportunities," Okee managing partner Georg von Rantzau said.

The vessel was sold in May by Singapore-based investment company Transport Capital for a reported price of around $5m.

It has been delivered and renamed Okee Ortolan Delta.

Another German owner, Briese Schiffahrts, has taken delivery of the 1,700-teu Stellar Wakamatsu (built 2010).

The vessel will be the Leer-based owner's biggest container vessel, which comprises seven ships of 1,368 teu, according to Alphaliner.

The ship, which has been renamed Jan, was reported sold for $6.8m in March.

A third German company that is moving into the containership sector is Hermann Lohmann Bereederungen.

The outfit has taken the 1,374-teu OM Bonitatis (built 2009) into its fleet under the new name of Victoria L.

Alphaliner lists the ship as the first containership to join the fleet of Haren-based company, which comprises general cargoships and coasters of 3,700 dwt to 8,100 dwt.

Another boxship sold to buyers in the German market is the 3,500-teu Nelson (built 2007), according to brokers.

The vessel is one of three ships of similar age and design that has operated in the fleet of Hamburg-based NSC Shipping.

The vessel has reportedly been sold to Nordic Hamburg for a price of $5.2m.

Brokers also reported that Lomar Shipping, which has offices in Germany, London and Singapore, has acquired the 1,732-teu Fritz Reuter (built 2006) for $4.1m.

Trends

The sales go against the trend of increasing numbers of German-controlled ships being sold to overseas buyers.

That has contributed to Germany losing its position as the leading owner of containerships to China.

The country is the second biggest owner of containerships with 14.4% of the fleet in teu terms, according to the German Shipowners' Association (VDR).

That coincides with a reduction of the size of the German registered fleet.

At the end of 2019, just 2,140 ships were listed on the German shipping register with a gross tonnage of 52.8m.

That is 184 fewer ships, or 4.7m less, in gross tonnage than a year earlier.