The panamax boxship sector has been written off as dead on several occasions.

But a sharp fall in asset values to scrap-related levels has generated renewed interest from Chinese buyers, who are snapping up conventional panamaxes from German owners. The latest to show an appetite is Zhonggu Shipping.

It has forked out around $13m for the en-bloc purchase of the 4,294-teu Northern Genius and Northern Gleam (both built 2008).

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