Strong price for Asterix boxship shows Marinakis’s magic

Evangelos Marinakis has once again displayed the magic potion he has when it comes to asset plays, pocketing a swift $700,000 on a feeder boxship he bought 11 months ago.

At the end of January, Capital Liberty Invest, the joint venture between Marinakis’s Capital Ship Management and Germany’s Liberty One led by Dietrich Schulz, acquired its first ships, a pair of feeder container vessels, the Ibrahim Dede for $9m, which was rechristened Asterix, and the Cafer Dede, rechristened Apostolos II.

The 11-year-old 1,878 teu Asterix has now been sold to Admiral Container Lines for $9.7m and has had its name changed for the third time this year to Admiral Galaxy. The Liberian-flagged vessel is the ninth ship in the Admiral fleet, which specialises in eastern Mediterranean and Black Sea coverage. Founded in 1998, Admiral Container Lines is headquartered in Valletta, Malta.

On the $9.7m price tag, brokers Braemar ACM noted today: “Certain buyers are still there to pay up for the right vessel.”

Capital Liberty Invest is still in control of the Apostolos II.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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