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Container shipowners under severe pressure in 2016

The market value of container vessel owners such as Seaspan and Rickmers have been virtually slashed in half over the course of 2015. It does not help the situation that many ships will be returned from carriers during 2016, Alphaliner writes.

Photo: Hanjin

2015 was a tough year for companies such as Seaspan and Rickmers, which make a living leasing container vessels to the carriers. Combined, the seven listed container ship lessors lost 48 percent of their market value last year, as profits took a hit from the drastic rate declines, and there was a dive in the value of vessels in resales, writes the news agency Alphaliner.

The hardest hit company was Box Ships, headed by Michael Bodouroglou, which noted a decline in company shares of 81 percent over the past 12 months.

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