The widely acknowledged uncertainty in the global political environment is causing a certain degree of restraint in container shipping. However, this has not curbed the appetite for second-hand tonnage.
According to calculations by the industry service Alphaliner, a total of 332 container ships were sold last year. In view of the political uncertainties and the risk of overcapacity, the current market report states: “Headwinds cannot throw the S&P market off track in 2025.” On average, the traded freighters were 16 years old.
There was therefore definitely no slump. Compared to the very dynamic previous year, it is striking: The level was almost the same – in 2024 there were 333 ships. For 2025, the report now states: “Demand for tonnage was high in most segments, prices were stable and the supply of charter-free ships was limited”. The 332 container ships traded comprise a total capacity of 859,000 TEU. This at least shows a difference to the previous year: 1.1 million TEU in 2024. The “all-time high” achieved in 2021 remains unattained for the time being: 598 box carriers with a total of 2 million TEU.
The most frequently traded ships in the past twelve months were medium-sized units: 162 ships with a capacity of 900 to 2,000 TEU changed hands, significantly more than the 101 ships sold in 2024. Ships in the 2,000 to 5,100 TEU size class were also in demand; 92 ships with a total capacity of 308,000 TEU were sold.
Among the larger ships, the majority of transactions were concentrated in the 5,100 to 10,000 TEU class. 32 ships with 245,000 TEU, significantly fewer than the 52 in 2024. According to the Alphaliner analysts, the 8,000 to 8,900 TEU segment was particularly popular, with 21 freighters sold. Activity was low for ships over 10,000 TEU; only four ships with a capacity of 13,000 to 14,500 TEU were sold to new owners – compared to ten units in 2024.
MSC, the world’s largest container liner shipping company, was once again the most active buyer, adding a further 63 ships to its fleet. Although this was slightly fewer than the 70 additions in 2024, a look at the past few years makes it abundantly clear how great the hunger is: since the start of an unprecedented ship purchase campaign in August 2020 as a result of the Covid pandemic, the Swiss-based company owned by the Italian Aponte family has now acquired no fewer than 475 container ships.
CMA CGM once again ranked second among the “willing buyers” last year: 26 ships acquired represent an increase of eleven units. According to the Alphaliner report, the third-largest buyer was the Greek Erasmus Corp, a rapidly expanding non-operating owner (NOO), which acquired ten second-hand freighters.
The German MPC Group was the most active seller. It sold 15 ships, as the company is investing in newer tonnage. It was followed by Contships Management, also based in Greece, which sold 14 ships as part of a fleet renewal program. Peter Döhle from Hamburg, SFL Corp, V Ships Hamburg and Sinokor were also among the most active sellers.
A certain continuity could be observed in the business of charter shipowners or “non-operating owners”: Over 170 ships with a capacity of half a million TEU were sold to end customers, i.e. liner shipping companies, in 2025. “The ongoing exodus of NOO ships from the charter market since 2020, with insufficient replacements, particularly in the smaller and medium-sized ship segment, is not only a major threat to the future of the charter business,” the analysts write. The exodus of the past year will also have an impact on the volume of purchases and sales in the future, as ships acquired by liner shipping companies often remain in the possession of their owners until the end of their useful life and thus generate less S&P activity.
Similar to the charter market, the development of the buying and selling market could be negatively impacted by a large-scale resumption of container traffic through the Red Sea and the Suez Canal, which is expected in 2026, according to the experts. The threat of overcapacity that could arise if shipping companies start using the “shortcut” again could weigh on assets, especially those of large ships.
“Smaller and medium-sized ships, especially modern, energy-efficient vessels, could be less affected, as most of them are deployed on regional routes that are hardly affected by developments on the main East-West routes. Nevertheless, the threat of overcapacity in the event of a market downturn could prompt more and more shipowners to offer their older and less efficient vessels on the recycling market,” it concludes.
