Boxship sale-and-purchase deals surged in the first half of the year.
More than half a million teu of container tonnage changed hands in the first six months, analyst Alphaliner estimates.
Some 141 ships of 572,600 teu were bought and sold between January and June, an average of 23 per month.
That compared with an average of 15 sales per month in the second half of 2023.
“Despite the influx of a massive 1.6m teu in newbuilding capacity in the first half of 2024, carriers sought even more tonnage in the secondhand market in order to plug schedule holes and capitalise on firm rates,” the container shipping analyst noted.
MSC Mediterranean Shipping Company remains the largest buyer, with 33 ships purchased in the first half.
It is estimated to have bought 371 vessels since embarking on an unprecedented spree in August 2020.
Rival CMA CGM was more subdued, with only five acquisitions in the period.
“Carriers sought every available ship to meet the demands of the extended trip around the Cape of Good Hope and maintain lucrative service schedules,” Alphaliner noted.
Slowdown
On the selling side, AP Moller-Maersk was the biggest player with eight sales in the first six months.
The next biggest sellers were V.Ships Hamburg (eight ships), NSB Niederelbe (seven), Capital Ship Management (six) and Shoei Kisen (five).
“Sales were spread evenly over the size segments, but there were more transactions involving resales of older vessels,” Alphaliner added.
There are, however, signs of the market slowing in the second half of the year, as prices rise and the availability of ships falls.
In June, the number of sales fell to 19 ships of 56,853 teu, although prices continued to increase.
Alphaliner expects sales volume and prices will keep rising in July, “although there are signs that the market may become less active as carriers put fewer ships up for sale, preferring to make the most of the charter market rather than dispose of assets”.