The market for feeder boxships continues to head south — but charter rates and asset values would be falling a whole lot faster were it not for the Russians.

This week saw another three 1,162-teu feeder vessels originally destined for scrap find a new home with Russian container carrier Transmasters.

The former Wan Hai 261, Wan Hai 262, and Wan Hai 263 (all built 2021) have been acquired by Chinese owners and renamed Honrise, NewEverprosper and Star Bright.