Regional Container Lines (RCL) is poised to make its largest acquisition to date.
The Thai-listed, intra-Asia operator is reportedly paying $50m to purchase the 8,600-teu Mediterranean Bridge (built 2011).
The deal points to a further surge in values for vessels of this category.
In 2017, the Mediterranean Bridge — formerly the Hanjin New York — was bought for a reported $25m by South Korean owner Sinokor Merchant Marine.
The ship presently operates in the Asia to West Africa services on charter to French liner operator CMA CGM.
Brokers expect the vessel to be delivered to RCL when it finishes its charter near the end of the year.
Stabilise running cost
The move is the second significant acquisition by RCL in the past month.
In February, the company bought the 6,350-teu APL Norway (built 2007) for $31.2m from Shoei Kisen of Japan.
The two vessels will be the largest in the fleet of RCL, which owns 39 feederships up to 2,732 teu.
Sources familiar with RCL said the company is keen to deploy owned vessels in its liner network in a bid to stabilise running costs.
RCL operates some intra-Asia services with larger chartered tonnage, including the 8,214-teu Charleston (built 2005), which is chartered from Greek operator Danaos until December this year at around $30,000 per day.
The ship operates in the trades between China and India.
CMB offloads to Hapag-Lloyd
RCL is one of several lines that are acquiring tonnage as an alternative to the expensive charter market.
Hapag-Lloyd has made a rare incursion into the secondhand market with the purchase of a traditional panamax boxship from Belgian owner Compagnie Maritime Belge (CMB).
The 4,255-teu Hobby Hunter (built 2009), which is currently on charter to Hapag-Lloyd in a market where charter rates are in excess of $25,000 per day, has been bought by the German line for a reported price of $23m.
It marks the first secondhand acquisition by Hapag-Lloyd since 2015, when it purchased two 3,510-teu vessels from NileDutch of the Netherlands.
If confirmed, the Hobby Hunter’s $23m sale price would mark a further escalation of values compared to two similar ships that CMB recently sold to Wan Hai Lines of Taiwan.
CMB sold the 4,178-teu Teal Hunter (renamed Wan Hai 521, built 2010) to the Taiwanese operator in December last year for just $18.25m.
Then, in January, Wan Hai had to pay $21m to take the 4,178-teu Toucan Hunter (built 2010), which CMB acquired in March 2017 for a reported $7.4m.
Sales at four-year high
Boxship sale-and-purchase volumes have hit a four-year high, while analysts say prices in some segments have doubled in a year.
The last three months of 2020 saw the highest quarterly sales by volume since 2017, according to Alphaliner figures.
It said sales in 2020 reached 267 ships of 971,055 teu, versus 195 vessels of 810,000 teu in 2019.
This compares with 1.5m teu sold in 2017, when the market was distorted by the sale of the Hanjin Shipping fleet.
The upward trend in sales has continued into 2021, with Alphaliner confirming 140,000 teu changed hands in January alone.
