Mediterranean Shipping Co (MSC) is forking out around $158m to acquire six ships of between 7,500 teu to 8,500 teu from the German market.
The liner operator is paying $114m to acquire four vessels of between 8,200 teu to 8,500 teu, according to Alphaliner.
That comprises the 8,200-teu ER Tianping and ER Tianshan as well as the 8,500-teu ER Tokyo and the ER Texas (all built 2006).
Two smaller vessels, the 7,849-teu ER Vancouver (built 2003) and ER Yokohama (built 2004), are in the process of being sold for an en-bloc price of $44m.
The vessels are currently operated by Zeaborn Ship Management on behalf of NordCapital, the finance company controlled by Erck Rickmers.
All six vessels, except for the ER Tianping, are on charter to MSC.
Spending spree
The six containerships are the latest in a string of larger container ships acquired by the Geneva-based outfit in recent weeks.
That has taken the liner operator's spending in the secondhand market to $180m, according to Alphaliner estimates.
The figure is expected to rise further with MSC buying the 5,624-teu Greenwich Bridge (built 2006) for $14m, say UK-based brokers. The vessel has been acquired with forward delivery next year.
The operator is also said to be behind the purchase of the 4,800-teu Baltic East (built 2005).
It is reported as purchased from Sinokor Maritime for $12m.
MSC has even been linked to a couple of purchases of smaller sub-panamax vessels.
They include the 2,490-teu Bomar Hermes (built 2006) for a price tag of $7m.
Well-timed move?
MSC declined to comment on the motives for the acquisitions.
But the timing coincides with a recovery of charter market rates to levels not seen for a decade.
Moreover, the risk of purchasing older ships is low with the fallback option of scrapping the ships if the market slumps, say brokers.
MSC launched its buying spree in late August with the acquisition of the 8,236-teu YM Uberty (built 2008) for $27m.
It followed that in September with the purchase of the 5,456-teu SM Tacoma (built 2000) for $10.5m.
That deal came as larger containerships were becoming increasingly difficult to source from the charter market.
