A pair of feeder boxships have been sold at a new benchmark low price, according to European brokers.
The sources said the 1,120-teu ER Sydney and ER Hobart (both built 2005) have been bought by Germany’s Vega Reederei for about $4m each.
Falling values
The reported price is around 20% less than the ships came close to fetching six months ago.
In May, they were included in sales reports priced at more than $5m each.
Vega was unable to comment on the deal. However, the two ships would fit into the fleet of the Hamburg-based shipmanager, which operates several similar CV 1100-designed vessels.
The ER Sydney and ER Hobart are the smallest of 25 containerships that Zeaborn Ship Management took from ER Schiffahrt earlier this year.
Zeaborn denied the ships had been sold or handed over.
Since July, prices for secondhand feederships have tracked the decline of the market.
Prices for a 10-year-old, narrow-beam containership of 5,10 teu have fallen to $11m from $13.5m in July, while those for a five-year-old vessel are down to $15.5m from $17m over the same period, according to Clarksons Research.
Uncertain outlook
Brokers said the containership market’s uncertain outlook had led to a shortage of buyers that has impacted on secondhand values for medium-sized containerships.
Elsewhere, the last in a series of traditional panamax-sized boxships managed by Germany’s NSC Group is close to being sold.
The 4,360-teu Bahamas and Bermuda (both built 2010) are said to be under negotiation to be sold for about $12m each.
Terms are agreed with potential buyers linked to the Navios Group, but subjects on the deal have yet to be lifted, TradeWinds understands.
US buyers
If completed, the price would mark a sharp drop since September when the 4,360-teu Benito and Bahia (both built 2009) were sold for close to $13.8m each.
The duo is understood to have been acquired by US investment fund Mangrove Partners.
The vessels have since resurfaced in the MPC Group fleet as the MP The Brown and MP The Law, respectively.
