Hot Sea-cargo Market Urges Shippers To Flip Vessels

  • Monaco-based owner reportedly quadruples return on ‘Crete I’
  • Sale symbolizes demand strength in container shipping market.

A variation on that buy-low, sell-high strategy is exactly what some container shipowners are opting to do, capitalizing on a hot ocean freight market that shows few signs of cooling off.

Returns on second hand vessels

International Maritime Enterprises, based in Monaco, agreed to sell the container ship Crete I for $46 million, more than four times the $11 million price tag...

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