Tsakos Offloads Panamax to OEL

  • Business & Finance

Dubai’s Orient Express Lines (OEL), a unit of shipping and logistics conglomerate Transworld Group, has acquired a 4,253 TEU containership from Greek shipowner Tsakos Containers Navigation, part of Tsakos Group.

Formerly known as M/V Irenes Wisdom and ER Yantian, the cargo ship has been renamed to Oel Jumeirah, Transworld said.

The latest acquisition has the biggest tonnage capacity in Transworld’s fleet, which is now comprised of 18 ships.

The Panamax containership, built in 2003 by Korea’s Samsung Heavy Industries, fetched a price of USD 7.1 million, almost USD 2 million above estimated market value, according to VesselValue’s data.

Tsakos bought the vessel in November 2014 from Germany’s E.R. Schiffahrt for USD 12.5 million.

Following the sale, Tsakos’ container shipping/RoRo fleet has 9 vessels that form part of a 90-strong fleet consisting of tanker, container and dry cargo ships with a capacity of over 9.5 million DWT.

World Maritime News Staff

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