Hapag-Lloyd has emerged as the buyer of another post-panamax boxship, but is shunning vessels being offered to it for “crazy” prices.

The Germany liner operator is paying around $69m to acquire the 6,500-teu Hamburg Bay (built 2009) from the fleet of Singapore’s Eastern Pacific Shipping, according to market sources.

Chief executive Rolf Habben Jansen outlined what he described as a “cautious” approach to buying or chartering ships in today’s markets.