Ernst Russ Group acquires 2,194 TEU container ship FRIDA RUSS

Ernst Russ Group acquires 2,194 TEU container ship FRIDA RUSS

Hamburg, 11. May 2023 - The Ernst Russ Group acquires a 2,194 TEU container ship and expands its fleet to 31 vessels. The takeover of the vessel took place today.

Today, the Ernst Russ Group took over a container ship with a capacity of 2,194 TEU which, as of today, will sail under the name "FRIDA RUSS". The vessel was built in Guangzhou/China in 2017 and is still chartered out for a remaining period of up to 20 months with an option right for a further three months at market levels. The schedule of the “FRIDA RUSS” for the coming months envisages a South-Pacific trade for the "FRIDA RUSS" with calls at Papua New Guinea, Fiji Islands, New Caledonia and Solomon Islands. The parties have agreed not to disclose the details of this transaction.

With this investment, the Ernst Russ Group is further expanding its shipping portfolio and contributing to the desired rejuvenation of the group's own fleet. Just recently, the Ernst Russ Group acquired the container ship "Bakkafoss" with a capacity of 1,025 TEU in a joint venture with the Icelandic shipping company Eimskip.

About the Ernst Russ Group: Ernst Russ AG is an internationally operating ship-owner and maritime investment manager based in Hamburg. Parts of the company date back to 1893. The Group currently manages a fleet of 31 fully consolidated vessels. The focus here is on container ships with a capacity of between 700 and 6,600 TEU. Ernst Russ AG expands its fleet on an ongoing basis thus ensuring stable and sustainable added value for its shareholders.