Christoph Toepfer’s Borealis Finance continues to wheel and deal in the secondhand boxship market with the acquisition of a geared feeder boxship from USC Group company Elbdeich Reederei.
Borealis has paid $11.6m for the 2012-built 3646 teu Elbsun and the vessel has already been delivered.
The deal appears to be a bargain with VesselsValue putting a market value of $16.05m on the Shanghai Shipyard-built ship, and MSI coming in with a valuation of $14.7m.
Last month, Borealis acquired the 2012-built 3,421 teu boxship Nordic Macau for $10.2m from Arne Blystad’s Songa Container. The deal was also seen as a bargain at the time with MSI placing a value of $13.4m on the ship. That valuation now stands at $15.3m.
Borealis has also been selling, and earlier this week brokers reported the sale of 2006-built 2,732 teu boxship pair Telemann and Bomar Spring to MSC for $15m.