Avelios Asset Management, located in the United Kingdom, and Crestline Investors, based in the United States, have teamed up to purchase two scrubbed-fitted, 2,500 teu container feeder boats from London-listed Tufton Oceanic Assets as reported by Splash 247.
Ships chartered
According to VesselsValue statistics, the 2004-built Cindy, valued at just under $51 million, and the 2003-built Elizabeth, valued at $49.6 million, were purchased for $21 million each. Both ships are chartered to Maersk for an extended period of time.
“For Avelios and Crestline, the two vessels form part of an asset-backed investment strategy, which focuses on downside protection via an attractive entry price and contracted cash flows while allowing for upside convexity through re-chartering optionality,” the two companies said.
The German-built feeder vessels will be operated by Hamburg-based technical manager Hammonia Reederei.
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Source: Splash 247
