ContainersEurope

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 backgroud 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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