With the container shipping market in the doldrums, container ship prices have recently followed a sharp correction in charter rates, according to Lloyd’s List. This is despite signs that smaller shipowners are returning to the second-hand market in a bid to renew their fleets with modern vessels. However, interest in older vessels has disappeared due to the uncertainty caused by impending emissions regulations and recent transactions of second-hand containerships have been close to zero. paper for cup

The latest containership to be sold is reported to be Korea Marine Transport’s 1048 TEU Sunny Lotus (IMO:9641156), which was sold to an undisclosed buyer in early October for US$15.5 million. Since then, no transactions have been reported. However, brokers say enquiries for modern feeder containers are increasing.

One London broker recently said that in the smaller containership sector, particularly for vessels smaller than 1,000 TEU, enquiries from Chinese, South East Asian and Turkish buyers, which have not been in the market for a long time, are increasing as vessel prices continue to correct. This is interesting. paper cup material manufacturers

In addition, earlier this year Panamax containerships could be sold quickly for $100 million and now the vessels are priced at $32 million – a very significant adjustment. Some people even wonder whether the market has over-adjusted. In fact, yet no Western shipowners have gone after the current low prices. Although there is still some interest from shipping investment funds with money in hand, they intend to buy ships with long-term charters. paper cup raw material

It is noted that the value of non-environmentally friendly vessels has been revised to a greater extent than for modern vessels, with buyers paying more attention to the carbon intensity targets of vessels than earlier this year. It is difficult to quantify the difference in value between non-environmentally friendly vessels and more efficient vessels as the number of transactions is currently very limited.

However, the broker noted, “Owners are not keen on older vessels because they don’t want to buy a ship they don’t know how long they can operate.” paper cup material

The broker expects transactions to remain sluggish until the Chinese New Year due to a lack of sellers. At the same time, the market is not under pressure from forced sales as the balance sheets of containership owners have improved significantly over the past two years. paper cup fan

It is understood that only one large 4,500 TEU vessel built in 2008 is currently on the market for sale, with all other vessels smaller than 1,000 TEU.