Denmark’s Navigare Capital Partners is hiving off a second neo-panamax container ship to Germany’s D Oltmann Reederei.

It is selling the 9,034-teu UASC Zamzam (built 2014) for less than $71m.

The sale includes the novation of the existing time charter to German liner operator Hapag-Lloyd. The charter is expected to run to at least April 2024 and possibly August, brokers said.

The deal takes the fleet of Bremen-based Oltmann to nine container ships of between 3,600 teu and 10,010 teu, including the 8,845-teu Luanda Express (built 2007) and 6,541-teu Chennai Express (built 2006).

It is the second boxship deal this year between the Copenhagen fund and the Bremen tonnage provider.

In February, the 10,010-teu RDO Ace (ex-Navigare Collector, built 2018) was sold to Oltmann for a reported $81m.

Navigare managing partner Henrik Ramskov confirmed that the UASC Zamzam had also been sold, but did not give details.

The vessel was built at Hyundai Samho Heavy Industries as the Asiatic Summer for German owner Asiatic Lloyd, which sold it to Navigare in 2018 for a reported $75m.

Navigare has been cashing out on its investment in the large container sector and reinvesting in smaller boxships.

Last year, it teamed up with the Schoeller Group to invest in six 2,700-teu vessels under construction at CSSC Guangzhou Huangpu Wenchong Shipbuilding in China.

The vessels are being built for Schoeller subsidiary Cyprus Green World for delivery this year and next.

Navigare also retains a fleet of tankers, bulkers, one LNG carrier and one offshore wind support vessel, and has four offshore wind support newbuildings under construction at Norwegian shipyard Vard.

Oltmann’s purchase reflects the growing interest of tonnage providers in the larger container ship segment.

Global Ship Lease (GSL) yesterday emerged as the buyer of four older post-panamax container ships for $123m.

They will be chartered back to the undisclosed seller for at least two years.

Delivery will be phased during the second and third quarters of 2023. The ships will be renamed GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie.

GSL is said to have fixed the 9,115-teu Anthea Y (built 2015) to MSC Mediterranean Shipping Company for delivery later this year, but terms are not disclosed.

Together with CMA CGM’s recent chartering spree for a series of up to nine 7,000-teu newbuildings, the deals mean the large boxship segment is nearly sold out for 2023, according to brokers.