George Economou's Drytank is set to exit the containership sector.
The Greek shipowner is selling the 6,477-teu Miramarin (built 2010), the company's last remaining containership.
According to market sources, the post-panamax has been sold to Korea Marine Transport Co for whom it will be among the largest vessels in its fleet.
The Miramarin is reported to have fetched in excess of $27m with delivery to the new owner in April 2021.
The deal marks Economou's exit from the container market more than a decade after his company acquired the vessel.
The vessel, which is managed by Drytank, was purchased from France's CMA CGM in 2010.
It changed hands after the financial crisis for what was then a staggeringly low price of about $45m.
Economou still has some exposure to containerships as a shareholder in NYSE-listed boxship owner Danaos.
But he recently sold his stock back to the company and has reduced his Danaos holding to little more than 4%.
Technomar and Danaos move in
Economou's exit comes as other Greek containership owners are building up their post-panamax fleets.
George Youroukos-controlled Technomar Shipping has picked up three post-panamaxes in recent weeks.
The company has acquired the 5,514-teu APL England (built 2001) for between $11.2m and $11.5m.
It has also bought the 5,551-teu Rio Barrow (built 2001) from Germany's Ahrenkiel Steamship for an undisclosed price. It was acquired weeks after Technomar paid about $10m for the 5,551-teu sistership Rio Blackwater (built 2000).
The Rio Blackwater has been renamed Zoi and is understood to have been fixed to an Asian operator for 12 months at $22,000 per day.
Separately, Danaos is said to have acquired a pair of 10-year-old vessels from the German market.
The 8,580-teu CPO Bremen and CPO Hamburg (both built 2009) are reported sold for $31m each.
The ships are performing a three-year charter with Mediterranean Shipping Co at $23,000 per day, so have a two-year charter attached, according to Alphaliner.
Sales of boxships recovered in October with 18 ships of 0.11m teu sold, up 41% month-on-month, according to Clarksons.
That is thought to include the sale of the 8,586-teu Cypress (built 2011) for an undisclosed price to interests linked to JP Morgan.
If confirmed, it would be the third owner of the Cypress, originally the Hanjin Seattle, since the bankruptcy of Hanjin Shipping in February 2017.
The Cypress was fixed in September 2019 for a 60-month employment with CMA CGM.