LOTUS A – Ship Tracker & Vessel Information

Seller → buyer: Global Meridian Holdings → Global Ship Lease (GSL)

Reported price: USD 30.000 million

Note: CYPRESS + KOI + LOTUS A reported sold enbloc for an aggregate price of $90m. https://www.tradewindsnews.com/containers/global-ship-lease-splashes-out-on-three-cash-cows-of-the-future-/2-1-1909746

Seller → buyer: Korea Asset Management Corp

Note: https://www.tradewindsnews.com/containerships/sm-line-hives-off-former-hanjin-shipping-trio-in-100m-deal/2-1-681835 South Korea’s SM Line has confirmed the sale of its three largest boxships. The 8,586-teu SM New York (built 2010), SM Norfolk and SM Savannah (both built 2011) have been sold in an enbloc deal estimated to be worth more than $100m. The line will deliver the neo-­panamaxes to an unnamed buyer at the end of the year. The trio was linked earlier this year to Chinese lessor International Far Eastern Leasing Co. The sale price is significantly less than their charter-free asset value, which some estimates put at more than $40m per vessel. But brokers suggested that the vessels have entered a five-year charter with CMA CGM at about $19,000 per day — although confirmation from the French liner ­operator was not possible at the time of writing. That would be significantly ­below spot rates of around $30,000 per day. SM Line acquired the Hyundai Samho Heavy Industries-built trio two years ago from bankrupt Hanjin Shipping, intending to deploy them on trades to the US east coast. However, the trade loop requires at least 10 vessels to operate and the South Korean operator postponed its plan to launch the route due to a poor containership market. SM Line, which is the liner arm of Samra Midas Group, told TradeWinds in August that it was looking to sell three neo-panamaxes to profit from increased ­values for ships of this size. When the ships were originally floated for sale at the start of the year, potential buyers, including some Greek owners, sought to ­acquire them for only $26m each. SM Line’s decision to sell was ­influenced by the prospect of the cost of fitting scrubbers and ­ballast water treatment systems ahead of IMO 2020. SM Line was established in 2017 and operates 17 containerships on intra-Asian and transpacific services. Many of the vessels it owns or operates were formerly part of the fleet of collapsed South Korean operator Hanjin Shipping. The sale comes as an improving charter market for larger tonnage is fuelling increased buying interest in larger boxships. Brokers reported that the 8,084-teu Conti Champion (built 2005) has been sold to Danaos Corp for $25m. It is one of seven sisters of this age in Offen Group’s fleet. Shipbroker Braemar ACM argued that the pending sale of the 8,253-teu YM Utopia (built 2008) is likely to set another benchmark in the sector.