The number of cellular container vessels changing hands reached an all-time high in 2021 after ship owners appeared willing to pay almost any price to secure tonnage in the frenetic post-COVID market.
A total of 572 container ships were sold during the year, equivalent to a breathtaking 1.94 Mteu, the first time annual sales have exceeded 1.6 Mteu.
The year set new records both by teu volume and number of deals. In the short to medium-term, operators’ faith in the S&P market appears to have been rewarded, as forecasts for a market correction have been repeatedly kicked down the road.
A growing consensus now suggests the current supply chain chaos will last at least throughout 2022 which may even justify purchases with delivery deferred to this year.