Mediterranean Shipping Co (MSC) has snapped up a 17-year-old vessel for the price it was ordered for two decades ago.
The Swiss liner operator is paying between $42.5m and $44m to acquire the 4,992-teu Kowloon Bay (built 2004) from Singapore’s Eastern Pacific Shipping, according to broking sources.
That is only slightly less than it cost when it was contracted at Hyundai Heavy Industries in 2002.
