Recently, non-operating shipowner Foroohari Schiffart made its boldest move to date in the container shipping sector, spending approximately US$120 million to acquire the 13,312 TEU large container vessel “Manzanillo Express” from Greek shipowner Capital Ship Management.
The Manzanillo Express, built by HD Hyundai Samho in 2022, is a three-year-old vessel with a container capacity of 13,312 TEU. It will become the largest vessel in the Foroohari Schiffart fleet to date. Previously, the flagship vessel in the company’s fleet was the BF Hamburg, with a container capacity of 6,494 TEU.
Currently, Foroohari Schiffart operates a fleet of 19 vessels comprising container vessels and multi-purpose vessels, ranging in size from 509 TEU feeder vessels to medium-sized Panamax container vessels. The introduction of this 13,000 TEU container vessel marks a significant expansion of its fleet capacity.
Upon delivery, the Manzanillo Express signed a ten-year time charter contract with German liner giant Hapag-Lloyd, which runs until 2032. The vessel is 335 meters long and 51 meters wide, equipped with 2,220 refrigerated sockets and a deadweight capacity of 140,488 tons, making it highly competitive on Hapag-Lloyd’s densely populated Latin American refrigerated shipping routes.
For seller Capital Ship Management, this sale reduces its exposure in this vessel type. It currently retains two sister vessels, the Buenaventura Express and the Itajai Express, both built in 2023 and also under long-term charter to Hapag-Lloyd.