Tonnage-hungry liner operators have bagged a series of vessels from the German market in sale-and-purchase deals focusing on smaller ships.
The move continues a growing exodus of tonnage from German shipowners that has raised questions over the country’s future in container shipping.
The latest batch of vessels to be sold to non-German buyers come from smaller tonnage providers including Okee Maritime, HS Schiffahrts and Jebsen Shipping Partners.
Perennially hungry liner operator Mediterranean Shipping Co (MSC) — which is believed to have bought more than 100 boxships in the past year — is linked to at least two of the recently sold vessels.
The Geneva-based company has bought the 1,794-teu Jennifer Schepers (built 2009) for about $21m from Haren-based containership owner HS Schiffahrts, according to European shipbrokers.
The carrier is also understood to have acquired the 1,740-teu Okee Ann Mari (built 2002) for a price in the low $20m range.
This would be the second of Okee’s seven small containerships to be sold this year.
In March, the company sold the 1,400-teu Okee Alba (renamed A Makoto, built 2002), although the vessel remains in the Okee-managed fleet.
TradeWinds has sought comment from the German owners reported to be selling vessels.
MSC does not comment on transactions as a matter of policy.
Top dollar
Appetite for German-owned containerships has been fuelled by demand from smaller Asian liner operators.
Singapore’s Sea Consortium (Seacon) is paying about $25m to buy the 1,674-teu Gerrit Braren (built 2006), brokers said.
The new owners are expected to operate in the intra-Asia services of X-Press Feeders, a Seacon-related company that is among the world's largest independent common carriers.
The vessel had previously been operated on behalf of German owners by Jebsen Shipping Partners, a ship-management venture formed in 2015 that controls a fleet of 20 feederships.
The growing focus by buyers on vessels below 2,800 teu reflects the dearth of larger sales candidates, brokers believe.
The 1,304-teu Jett (built 2007), owned by Laurel Shipping and managed by Hamburg-based Schulte Group, was sold to an Israeli buyer for more than $19m, brokers said.
This marks a rise on the sale of similar feederships such as the 1,118-teu Vega Fynen (renamed MSC Olga F, built 2006) that was sold in May for a reported $15m.
Other disposals include the 650-teu Heung-A Jakarta and Heung-A Manila (both built 1997) for $5.5m each.
The vessels were reported to be offloaded to Singapore-based Straits Orient Lines (SOL), formerly known as Orient Express Lines, which operates intra-Asia regional services for Transworld Group Singapore.
The interest in smaller ships is rising as charter rates continue to climb.
Rates for ships of between 2,000 teu and 3,000 teu have soared as high as $150,000 per day for short periods of up to six months.
Smaller vessels of 1,700 teu can demand up to $120,000 per day for a transpacific round voyage.
This has made it difficult for operators to obtain ships for longer periods unless they are prepared to pay top dollar.
