Ernst Russ takes full ownership of boxship from Eimskip JV

Germany’s Ernst Russ Group has reached an agreement to acquire one of the container vessels owned by ElbFeeder, its 52/48 joint venture with Icelandic liner Eimskip.

The 11-year-old vessel is being sold for further trading to an affiliate of Ernst Russ and it is currently employed to a third-party liner for a term of up to three and a half years.

The transfer of ownership is expected to be concluded in September and should generate €3m ($3.53m) net earnings for Eimskip in Q3 2021.

ElbFeeder currently has two 2010-built sister ships, EF Eldra and Tilly Russ (pictured). The joint venture will own six boxships after the transaction.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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