Playing the asset game

Bullish Danaos reports hike in revenue and healthier charter market for larger ships

Greek non-operating containership owner Danaos Corporation has reported a “significant improvement” in the charter market for vessels over 5,500 teu.
It also noted a “slight” improvement for smaller ships.
Danaos owns a fleet of 55 containerships, mostly on long-term charters to ocean carriers, ranging in size from 2,200 teu to 13,100 teu.
Net income in the first quarter was $38.6m, compared with $28m in Q1 2018, mostly attributed to a $7.7m decrease in …

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MSC charters more box ships to stand in for those being fitted with scrubbers

Containership owner Global Ship Lease (GSL) has announced the five-year charters of two sister 8,667 teu post-panamax vessels to MSC.
The carrier is continuing to snap up any large tonnage that comes on the market to cover its large scrubber installation programme that will see a substantial number of its ships out of service before the IMO 2020 regulations come into force.
The fixture of the 2004- and 2005-built ex-OOCL-owned ships will …

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Seaspan turnover tops $1bn in 2018 and eyes an IMO 2020 bonus on the way

Seaspan Corporation is bullish on the prospects for the charter market for the second half of the year, as ocean carriers look for tonnage to take over from ships being fitted with scrubbers.
The world’s largest boxship lessor said ship availability in the 6,000 teu-plus sectors was “becoming tight”, as carriers looked to tie up charters for 12-month periods, as  well as to fill in gaps resulting from the further slowing …

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Charter market ends 2018 on a gloomy note but hopes for low-sulphur silver lining next year

The short-term market outlook for non-operating containership owners is “grim” according to Alphaliner, but there could be a silver lining from the IMO 2020 regulations next year.
“The container charter market is ending 2018 on a rather uninspiring note, with continuously weak charter rates across the board,” said the consultant.
It added that given the start of the holiday season, which will stymie most deals until at least the second week of …

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https://theloadstar.co.uk/charter-market-ends-2018-on-a-gloomy-note-but-hopes-for-low-sulphur-silver-lining-next-year/

Shipowners Global Ship Lease and Poseidon Containers to merge

Non-operating shipowners Global Ship Lease and Poseidon Containers are to merge in a deal worth some $780m.
The deal will create a company with a fleet of 38 vessels, capacity of 198,793 teu and contracted revenue of $528m.
The deal will see privately owned Poseidon Containers take a 70% stake in GSL and its major shareholder, CMA CGM, retain a minority stake.
It brings to an end GSL’s search for a merger partner after revealing it would undertake …

The post Shipowners Global Ship Lease and...

https://theloadstar.co.uk/shipowners-global-ship-lease-poseidon-containers-merge/

MPC eyes expansion into wider markets with purchase of bigger box ships

Emerging feedership owner MPC Capital has bought three secondhand panamax container vessels as it looks to expand into larger box ship markets.
The combined price tag for the vessels was $42m, acquired on behalf of an “international investor”.
MPC said the deal meant it was shifting its focus to larger container vessels, as well as moving into bulker and tanker vessel ownership.
“Following the successful launch of MPC Container Ships  last year, focusing on …

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