Classic panamax boxship segment picks up

Classic panamax boxship segment picks up

With prices at generational lows bargain classic panamax boxships have been snapped up in large volumes in recent weeks. Alphaliner lists 17 secondhand ships of between 4,000 to 5,100 teu changing hands recently. Of those listed, the analyst is able to identify the buyer for the two biggest recent purchasers.

Asiatic Lloyd has come in for four Seaspan 4,275 teu ships – all built between 2008 and 2009 at Samsung Heavy Industries. Asiatic Lloyd is reported paying $9.5m per ship for the quartet.

Meanwhile, Cosco Shipping has swooped for four ALM ships. The Chinese giant is paying $7.5m per ship for two 5,060 teu ships and two 5,024 teu ships, all built between 2004 and 2006.

The classic panamax segment has picked up a great deal in the past fortnight, Alphaliner noted.

“[T]he tally of spot and prompt tonnage has decreased substantially. Three vessels in long term lay-up were re-activated to meet the current demand,” Alphaliner noted in its most recent weekly report.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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1 Comment

  1. Andrew Craig-Bennett
    August 16, 2017 at 11:21 pm

    It could hardly have got worse.