Dubai-based feeder boxship operator Global Feeder Shipping (GFS) has been revealed as the buyer of 2005-built panamax boxship Tim S.
The Hanjin-built 3,398 teu boxship was reported as sold by Germany’s Nordic Hamburg Shipping in January for around $10.10m. Escalating secondhand boxship prices now sees the ship valued at $15m by VesselsValue.
GFS took delivery of the ship last week, a week after it took over 2007-built 3,450 teu boxship Uni Florida (renamed GFS Perfect) from Hong Kong-headquartered Japanese owner Uni Asia.
GFS has been on a buying spree since August last year, having added eight boxships to its fleet. The company took over the liner operations of Dubai-based Simatech in 2018, and mainly provides services in the Middle East Gulf and between the Middle East and the Indian sub-continent.