12.6 C
Hamburg
Sunday, May 28, 2023
Evergreen Line
Evergreen Line
Evergreen Line
Home Most Visited Hapag-Lloyd pays US$55 million for boxship acquisition from Eastern Pacific

Hapag-Lloyd pays US$55 million for boxship acquisition from Eastern Pacific

Hapag-Lloyd has acquired the 4,253 TEU container ship, Chesapeake Bay, from Singapore-headquartered Eastern Pacific Shipping for US$55 million.

The transaction was completed on 6 January, according to data from the online valuation and data provider, VesselsValue.

A Hapag-Lloyd spokesman confirmed to Container News that the vessel will be delivered in the first three months of 2021 and will be deployed to the company's MIAX service.

The nearly 19-year-old vessel has seen an incredible increase in value over the past year, as in January 2020, the vessel was valued at US$9.36 million, according to Felix Mathes, Junior Cargo Analyst at VesselsValue, who told Container News that the ship's value "peaked at the end of October 2021 at US$58.92 mil, representing an increase of 530%,"

Source: VesselsValue

"Throughout the winter months, its value softened to US$46.24 million as a result of freight rates falling and the market slowing," he pointed out.

"However, as freight rates have started to climb again, so too have values. In general, though, the Sale & Purchase (S&P) market has had a quiet start to the year," commented Felix Mathes.

Antonis Karamalegkos
Managing Editor

Latest Posts

Drewry’s World Container Index drops this week

Drewry’s composite World Container Index (WCI) decreased by 2% to US$1,685.32 per 40ft container this week.Source: Drewry World Container Index, Drewry Supply Chain AdvisorsThe...

Houston Ship Channel generates over US$900 billion economic value to the US

Results from the John Martin Associates study showed that in 2022, the Houston Ship Channel generated US$$906 billion of economic value to the United...

MSC’s Swan service reinstated to North Europe and Poland

MSC's Swan service, which links main ports in China with North European ports in Benelux, Gdynia, Gdansk and Klaipeda, is being reintroduced as a...

DP World cut global carbon emmissions in 2022

DP World cut direct carbon emissions from its global operations by 5% last year, according to its latest Environmental Social and Governance (ESG) report,...

World’s largest container ship arrives at Port of Antwerp-Bruges

World's largest container ship MSC Loreto arrived in Antwerp, Belgium to load and unload containers at the MSC PSA European Terminal (MPET) in the...