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Container ship prices continue to weaken


In the fourth quarter of 2022, container ship transaction prices for all ship types and ages showed a continuous downward trend. Data show that this year, the volume of second-hand container ships declined quarter by quarter, as of now, only 25 transactions in the fourth quarter, down about 81% year-on-year.

There are two reasons for the decline in demand for container ships: first, freight yields have continued to fall. Earlier this year, the one-year charter rate of a super Panamax ship hit a record $148,500 / day, but prices have since fallen and are now at $65,590 / day, not yet back to pre-pandemic levels. Second, the gloomy outlook for the global economy puts pressure on consumer spending, thereby reducing demand for consolidated shipping.

Among the used box boat transactions reported in mid-December, the AS Cleopatra (2,742 TEU, built in August 2006) was sold to an undisclosed buyer for $20.9 million, with VV valued at $1.81 million.

Tanker prices continue to firm

Second-hand tanker prices continued to strengthen, with Afra /LR2 tankers Posting the strongest gains, especially for older vessels. So far in the fourth quarter, the transaction price of 105,000-tonne Afra tankers aged 20 years has increased by about 27 per cent to US $28.02 million, the highest level since November 2008.

Rates for Afra tankers have fluctuated sharply this year, but rose before the European Union imposed an oil embargo on Russia earlier this month. Afra tanker TCE revenue is currently around $80,632 / day, up $69,161 / day from $11,471 / day in the same period last year.

Notable recent transactions include the Model LR2 Minoansea (108800 DWT, built in August 2008), which was sold to an undisclosed buyer for $39 million, with a VV valuation of $37.21 million. The ship was previously traded for $20.8 million in July.

 



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