George Youroukos-controlled Technomar Shipping is making a $13m profit on the sale of a 17-year-old post-panamax boxship to Wan Hai Lines.
The Greek shipowner has sold the 6,030-teu My Ny (built 2004) for $25m as the Taiwanese liner operator continues to stack up on containerships from the secondhand market.
Technomar bought the vessel, formerly called March, for $11m in January 2018, when boxship asset values had tanked.
The Athens-based company is continuing to buy ships, having purchased seven secondhand containerships since August.
Deal increases Wan Hai’s tally
For Wan Hai, the acquisition of the My Ny means it has spent at least $269.5m to acquire 11 vessels in the past three months, according to TradeWinds estimates.
In December, it bought a trio of 7,241-teu vessels from Schulte Group and three units of 6,350 teu each from different shipowners.
This month, Wan Hai paid $18.5m for the 5,642-teu Granville Bridge (built 2006) from Doun Kisen of Japan. It also spent about $21m to buy the 4,255-teu Harrier Hunter (built 2009) from Compagnie Maritime Belge, which had already sold Wan Hai the 4,178-teu Teal Hunter (built 2010) in December.
It has also emerged as having bought the 4,900-teu Halifax Express (built 2000) from Costamare, for an undisclosed price.
Wan Hai embarked on its spending spree after setting aside $360m to buy ships from 1,800 teu to 8,500 teu.
Technomar's latest deal emerged days after Global Ship Lease, the New York-listed company of which Youroukos is executive chairman, acquired several post-panamax ships on a sale-and-leaseback deal worth $116m.
The vessels were not named in the initial announcement, but market sources link them to a series of ships managed by Germany’s Zeaborn Group.
GSL seven named
Brokers list the vessels as the 6,008-teu ER Felixstowe, ER London, ER Berlin (all built 2000), ER Canada and ER France (both built 2001), and the 5,992-teu ER Kobe and ER Los Angeles (both built 2001).
The ships are chartered for three to five years to an unnamed liner operator.
The vessels are scheduled for phased delivery during the second and third quarters of 2021, at which time they will be renamed GSL Arcadia, GSL Dorothea, GSL Maria, GSL Melita, GSL MYNY, GSL Tegea and GSL Violetta.
