Global auto sales are still hobbled by the current supply deficit in microchips, but even with such headwinds pent-up cargo demand is revving up the under-supplied sector with current orders not hitting the water until 2024

‘The days when owners would buy ships fresh from the yards, keep them for many years and trade them as part of the business are certainly reduced. People are now seeing the benefits of asset play in a more emphatic way,’ according to Macheras

The company also announced the sale of two of its older panamaxes, proceeds of which will be used for the new kamsarmaxes, which are expected to be delivered from the unidentified Chinese yard in the second half of 2023

The huge increase in container shipping asset values has given investors a rare opportunity to leave the market on a high. And with box shipping set to return to normal at some point, there is little opportunity for speculative acquisitions

Move is significant as it illustrates a shift towards capesize and larger vessels. The company is expanding its bulker fleet with bigger types of newbuildings and secondhand ships as it exits the supramax and handysize carrier category

After surging to record levels during the second quarter, the S&P market has eased back. But deals for some segments are still being done by carriers desperate for capacity

The new vessels will take the firm’s fleet to 29 supramax and ultramax bulkers, with an average age of four years 

The sale is part of the company’s move to retire non eco-designed tonnage amid stricter emissions rules

Hapag-Lloyd had shown little interest for investing in container terminals in the past. Its stake in Container Terminal Wilhelmshaven will give it access to a deepwater port for its new larger vessels