New Orders
As owners and carriers are still waiting for the effects of the Corona pandemic to become[ds_preview] clearer, no newbuilding orders have been placed in the last weeks. Currently the orderbook comprises 2.291mill. TEU or 9.8% of the active fleet. Since the beginning of the year, 15 units were contracted.
Secondhand Sales
The Second-Hand market has recently been relatively active after a longer break. The activity concerns above all the feeder segment, as price expectations seem more in line, say brokers. Especially the German fleet was affected with purchases and sales. Sellers include MPC, Jüngerhans, Vega and Northern Shipping. Various further sales negotiations are said to be already underway.
Demolition Sales
Currently cash buyers pay 315$/ldt in Pakistan, 310$ in Bangladesh, 295$ in India and 190$ in Turkey. It remains to be seen, whether the growing queue off Alang will lead to any kind of price development. The number of vessels sold for scrap has risen strongly – including the largest units ever scrapped with 7,403TEU – as the recycling businesses recovers from the lockdown. More than a dozen ships are waiting for being demolished.
