Eastern Pacific sells 2003-built panamax boxship to Hapag-Lloyd for $55m

Idan Ofer’s Singapore-based shipowning outfit Eastern Pacific Shipping has sold its 2003-built panamax boxship Chesapeake Bay to Hapag-Lloyd for an eye-watering price of $55m.

The 4,253 teu boxship has a value of $47.57m according to online pricing portal VesselsValue, while MSI values the ship much closer to the sale price with a valuation of $55.6m.

Eastern Pacific will be happy with the sale either way, having ordered the vessel from Samsung Heavy in 2000 and taking delivery in April 2003, trading it for almost 19 years. The ship’s latest charter has been with Maersk at a rate of $30,000 per day, according to VesselsValue.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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