With the charter market still booming, carriers chase ‘any box ship still floating’

September 15, 2020 Mike Wackett

Ocean carriers flush with cash after an estimated cumulative $1.8bn Q2 net profit and with even better results predicted for Q3, are targeting the S&P market for quality second-hand tonnage.
MSC, which does not publish results, but as the second-largest carrier can be assumed to be trading highly profitably, has completed the purchase of the 5,456 teu post-panamax SM Tacoma, at a reported $10.5m, from ship recycler GMS.
The 20-year-old ship was ...

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