Norway's Thor Dahl Shipping is capitalising on firmer boxship values by selling the Guangzhou Wenchong-built, 1,700-teu newbuilding Thorsriver (built 2017).

Sources say the Sandefjord-based shipowner sold the vessel to Kotoku Kaiun of Japan for $20m.

That price is somewhat higher than VesselsValue's estimate of $17m.

Thor Dahl managing director William L’Orange declines to comment on the sale.

The ship was ordered two years ago, but the owner has struggled to get partners and financing for the investment.