Eimskip sells feeder vessel to Portugal’s Grupo Sousa
Eimskip Sells Key Vessel to Grupo Sousa
Icelandic shipping company Eimskip is set to part ways with its cornerstone feeder vessel, Lagarfoss, transferring ownership to Portugal’s Grupo Sousa by September. Built in 2014, the vessel will see Eimskip incur a loss of approximately €3.4 million ($4 million) from the sale. This decision reflects Eimskip’s ongoing efforts to optimize its fleet and adapt its operational strategy.
Details of the Sale
The *Lagarfoss*, with a capacity of 875 twenty-foot equivalent units (TEU), has been an integral part of Eimskip’s North Atlantic service for over ten years. Originally ordered for $19 million, its current market value stands at about $14.2 million, as reported by VesselsValue. While the financial specifics of the transaction remain confidential, Eimskip has confirmed the impending loss from the sale. This divestment aligns with the company’s strategic assessment of its fleet and potential operational adjustments.
Eimskip operates a total of 16 vessels, comprising eight owned and eight chartered. Following the sale of the *Lagarfoss*, Eimskip plans to revise its sailing schedule in Iceland. The company utilizes 14 vessels for scheduled liner services across six different routes. Among these, ten are container vessels, four are reefer vessels, and two ferries operate within Iceland.
Grupo Sousa’s Shipping Operations
Grupo Sousa, the buyer of the *Lagarfoss*, is a prominent player in the maritime sector, notably through its subsidiary GS Lines. This company operates a fleet of six vessels that provide vital shipping services between mainland Portugal and several destinations, including the Azores, Madeira, Canary Islands, Cape Verde, and Guinea-Bissau. The acquisition of *Lagarfoss* is expected to enhance Grupo Sousa’s operational capacity in these regions.
Eimskip’s recent sale underscores the shifting dynamics in the shipping industry, particularly concerning the secondhand vessel market. The company indicated that favourable market conditions played a role in its decision to divest the vessel. As Eimskip continues to evaluate its fleet and operational strategies, further changes may be on the horizon for the Icelandic carrier.
