Songa Container fetches bumper price for post-panamax boxship

Arne Blystad’s Songa Container has announced the sale of 2013-built 4,957 teu post-panamax boxship Songa Toscana.

The vessel was sold for $42.3m, far in excess of the $32.7m valuation according to both VesselsValue and MSI. The buyer was not named. Songa had originally picked the ship up for just $23m.

According to Songa’s Q3 2020 financial report, the vessel has yet to be fitted with a scrubber and the decision was made last year to indefinitely postpone installation. A standard special survey is due to be carried out this quarter, and it is not yet known whether the scrubber will be fitted during the drydocking.

The Yangzijiang-built ship is currently on charter to Taiwan’s TS Lines at $17,700 per day according to VesselsValue.

Delivery to the new owner is scheduled at the end of the charter, and is scheduled to complete before the end of March.

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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