Ernst Russ Buys Box Ship

The Ernst Russ Group has acquired a 700 TEU geared container ship in cooperation with a strategic partner.

German-based company which manages a fleet of around 80 container, tanker and bulker ships as well as other vessels said that the successful acquisition of the vessel strengthens its strategic position in the market and further expands the Ernst Russ Group fleet.

The 700 TEU container ship, MV ‘Skogafoss’ was built in 2007 and is in a good technical condition. It has been operating on the North-Atlantic shipping routes to date and will be delivered into a charter with the Icelandic liner company Eimskip.

The value of the transaction will not be disclosed. All shipping operation services will be provided by North German shipping companies.

This allows the Ernst Russ Group to generate constant revenues from operations and develops its position as an asset and investment holding company for maritime investments.