Oslo-based Awilco Container has scored a significant profit by selling the last of seven boxships that the shipowner bought cheaply in 2017 and 2018.
European shipbrokers said the company's 4,250-teu Alabama (built 2010) has changed hands for $35m. The Awilhelmsen Group-controlled shipowner owned the ship on a 50:50 basis with US-based Transportation Recovery Fund (TRF).
The price tag means the two companies have pocked a profit of more than $23m on the containership.
Awilco Container chief executive Jens-Julius Nygaard did not respond to repeated requests for comments on the sale of the company's containerships.
The shipowner and TRF, which was formerly controlled by Wilbur Ross, bought all seven similar containerships from the German KG (limited partnership) market.
They paid about $11.5m for each of the seven ships in 2017 and 2018.
"These are good ships that are well maintained. And they come extremely cheap, they did not cost us much more than scrap value," Nygaard told TradeWinds in 2017 amid the buying spree.
Awilco and TRF have now logged a total gross profit of $68m from the sales of the septet.
In the latest deal, TradeWinds reported in April that the companies sold two of the ships, the 4,263-teu Mattina (built 2007) and 4,250-teu Tejas (built 2010), for $50m en bloc to Mediterranean Shipping Co (MSC). The liner giant already had these two ships on charter.
Three of the seven ships vessels are still listed on the company's website.
Awilhelmsen Group is owned by Arne Alexander (Alex), Bent Christian and Peter Preben Wilhelmsen, the sons of late shipowner Arne Wilhelmsen.
Its largest investment is its stake in cruise company Royal Caribbean Group and real-estate company Linstow.
