Ship Finance International Limited will buy four 14,000 TEU containerships which will be chartered to a container line whose name has not been revealed.

The eco-design boxships will be purchased with a combination of cash and shares. The charters will run until 2024, with options to extend.

According to CEO Ole B. Hjertaker, “[t]his acquisition highlights Ship Finance’s strength and ability to achieve sustained growth and continued diversification. We are deploying a part of the recently raised capital, but still have capacity for new accretive opportunities. Over the last two months we have added nearly USD 600 million to our charter backlog and expect to continue increasing our fleet of vessels and charter backlog in 2018.”

Chinese container shipping major COSCO Shipping Corporation has taken delivery of its fifth 20,000 TEU containership,named COSCO Shipping Virgo.

Built by Shanghai Waigaoqiao Shipbuilding, the ship is almost 400 meters long and 60 meters wide.This is the equivalent to almost four standard football fields.

COSCO Shipping Virgo has a maximum carrying capacity of 20,119 TEU and can achieve a speed of 22.5 nautical miles per hour.

According to COSCO, the ship’s fuel consumption and energy-efficiency have been optimized through latest energy-saving rudder and propulsion systems.  In addition, the ship is equipped with intelligent ship management systems and allows for one-man bridge operation.

It is worth USD 122.95 million, based on the valuation from VesselsValue.

The delivery of COSCO Shipping Virgo comes on the back of four 20,000 TEU boxships delivered since the beginning of this year.

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Maersk Starts New Transatlantic Service

Danish giant Maersk Line is addressing the growing demand for a route between the Mediterranean and Canada by introducing a weekly service.

The five-vessel rotation will make stops in Salerno and La Spezia (Italy), Fos-sur-Mer (France), Algeciras (Spain), Montreal and Halifax (Canada), and Valencia (Spain).

The Mediterranean-Montreal Express will be connected to other markets via Maersk's integrated transshipment services in Algeciras and Valencia.

“With one agreement in effect to fuel Canadian imports and exports in the Atlantic and another one in the works for the Pacific, this represents only favourable wind behind the expansion of our services in Canada,” Jack Mahoney, President of Maersk Line Canada, stated.

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