News / New second-hand box ship buying spree on the cards

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Despite a challenging operating environment, the second-hand containership sale and purchase (S&P) market remained resilient last year, and recent talk is of “the largest second-hand transaction seen for some time”.

Alphaliner has warned that a large-scale return of container traffic via the Red Sea and Suez Canal this year could weigh on asset values, particularly for larger ships. However, smaller and medium-sized, modern, energy-efficient vessels may prove more resilient.

Any downturn could push owners of older tonnage towards recycling. 

And maritime consultant Braemar reported this week unconfirmed market rumours of a “significant en bloc transaction” between liner companies, which, if true, would represent “the largest second-hand transaction seen for some time”.  

And Splash24/7 reports today that Korean shipping line Sinokor has decided on a major exit from the container market, which could also have huge ripple effects in the S&P market. 

The Korean line has reportedly sold its container assets to MSC at an estimated $2.5bn to $3bn and has embarked on a spending spree for VLCCs (very large crude carriers) – Gibson Shipbrokers described it as “trying to buy as many VLCCs as it can get its hands on”. 

Last year the container shipping industry faced “multiple uncertainties”, yet demand for second-hand tonnage stayed strong across most segments, according to new data from Alphaliner. 

The analyst said the market had been supported by “firm prices along the way and a limited pool of charter-free ships offered for sale”, creating a ‘seller’s market’. 

In total, 332 cellular container vessels, representing 859,000 teu, were reported sold for further trading in 2025.  

Source: Alphaliner

This was broadly in line with 2024 when 333 vessels changed hands, although overall capacity was lower than the 1.1m teu recorded last year. Even so, activity remained well below the extraordinary peak of 2021, when 598 vessels totalling 2m teu were sold. 

Medium-sized ships dominated transactions, and Alphaliner data shows 162 vessels in the 900-2,000 teu range changed ownership last year, a sharp increase from the 101 units in 2024. Ships sized between 2,000 and 5,100 teu also proved popular, with 92 sold.  

In the larger segments, activity was more muted. Sales of vessels above 10,000 teu were limited, with only four sold, compared with 10 the previous year, although 8,000-8,900 teu units stood out, with 21 transactions recorded. 

Prices followed a bullish trajectory for much of the year, with several headline deals underlining strong asset values. Among the most notable was the sale of the 2022-built, 13,312 teu Manzanillo Express for a reported $120m in August, the en-bloc sale of OOCL Brazil and OOCL Durban for $155m, and the 2023-built 1,930 teu Panay for $36m. 

MSC again emerged as the dominant buyer, acquiring 63 vessels in 2025. According to Alphaliner, the world’s largest carrier has purchased “a staggering” 475 containerships since launching its buying campaign in August 2020.