Containership market favourable says Samskip CEO

Liner Shipping and Trade — By on May 1, 2012 at 8:18 AM

Samskip's "Arnarfell"

The containership market is becoming more attractive and could present shipowners with opportunities for purchasing new tonnage, according to Samskip CEO Ásbjörn Gíslason.

In statement prepared by the Icelandic shipowner about the recent acquisition of the containerships Arnarfell and Helgafell, both of which have been employed by the company on the Iceland and Europe route since early 2005, Gíslason said: ‘When an interesting opportunity to buy presented itself, we were onboard. This investment we feel is a good one especially since the ships were specifically designed for our needs. We also managed to secure favourable financing, a recognition of the company’s good and strong position and a reflection of the trust we enjoy.’

The world market price for container vessels is favourable at the moment, he said.

The financing for the two 909TEU sister vessels, built by J J Sietas, was arranged by undisclosed German banks.

Gíslason’s view of the market seems to conflict, however, with that of Germanischer Lloyd’s CEO, Erik van der Noorda. Speaking in London, he told journalists that the sector is experiencing a ‘ramping up’ of containership layp-ups as charter rates continue to flounder with over capacity.

He also added that 250 distressed or insolvent ship funds can be expected.

 

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