SIGNS that the container sector is getting towards a market bottom can be seen in the sale and purchase secondhand market where vessels are changing hands in significant numbers.

As has been the case since the middle of 2020, Mediterranean Shipping Co (MSC) is leading the charge for tonnage. Describing the secondhand boxship market today as "exciting", Alphaliner, in its latest weekly report, notes the sale of three TS Lines ships. The 6,300 TEU TS DUBAI and the 5,400 TEU TS MUMBAI have gone to MSC, while Shreyas Shipping came in for the 2,553 TEU TS MANILA. MSC has also bought the 4,748 TEU CSL SOPHIE controlled by Cyprus Maritime of Greece.

With 292 vessels now purchased since it embarked on its massive secondhand buying binge in August 2020, MSC will soon reach the symbolic threshold of 300 secondhand ship acquisitions, an unprecedented event in the history of shipping, reports Singapore's Splash 247.

Source : Schetnet