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International Shipping
MSC continues buying spree, spending US$5m on a 2,506-TEU box ship
Date:2020-11-18 Readers:
SWISS-HEADQUARTERED Mediterranean Shipping Company (MSC) has continued to expand its owned fleet having recently completed the acquisition of 2,506 TEU ship EM Athens for $5 million from Greek owner Euroseas, according to Seasure Shipbroking.

The ship, built in 2000, is valued by VesselsValue at $4.55 million, and was previously on charter to MSC at a rate of $9,250 per day.

MSC has renamed the vessel MSC Malena, and over the past few weeks MSC has been extremely active adding second-hand tonnage to its fleet, most of which was previously on charter to the line, according to Singapore's Splash 247.

Earlier in the month, MSC acquired six German box ships ranging in capacity from 7,849 to 8,500 TEU for a total sum of $158 million. Since then MSC has also been named by brokers as the buyer of the 2005-built 4,800 TEU box ship Baltic East from Sinokor Maritime for $12 million as well as the 5,624-TEU box ship Greenwich Bridge from Japanese owner Doun Kisen for $14 million. It has also reportedly acquired the 2006-built 2,490 TEU Bomar Hermes from Borealis Finance for an undisclosed sum.

If all of the deals are confirmed, MSC's owned fleet will reach 204 ships and further narrows the gap with top placed Maersk. In terms of global market share there is now just 0.9 per cent difference between the two companies, both part of the 2M alliance.

Meanwhile, former Maersk COO Soren Toft is set to start as CEO at MSC this month.

https://www.shippingazette.com/menu.asp?encode=eng

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