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.
It could hardly have got worse.