Sinokor hailed as winning boxship deal of the year

It’s only mid-February but one broker has already made its pick for the containership S&P deal of the year.

Compass Maritime reports in its latest weekly report: “We keep reporting the ‘Deal of the Year’ in container vessels S&P but it appears that this week’s package sale from Sinokor Korea to MSC has taken the prize that may not be surpassed.”

A prize that may not be surpassed

Compass reports that Sinokor originally paid a total of $49.1m for four mid-sized boxships that it bought in 2014 and 2019. Sinokor has now sold the quartet en bloc to MSC for $350m, a 613% increase in value.

The ships – all built between 2002 and 2010 – are the 4,253 Singapore Bridge, the 4,298 teu North Bridge, the 4,500 teu Baltic South and the 7,471 teu Baltic Bridge.

MSC’s historic ship buying spree has seen it add 160 secondhand ships over the past 18 months, taking it past Maersk as the world’s largest carrier.

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.
Back to top button