Eimskip And Ernst Russ Joint Venture Orders Two Next Generation Feeder Containership Newbuildings

EQS-News: Ernst Russ AG / Key word(s): Acquisition/Joint Venture
Eimskip and Ernst Russ joint venture orders two next generation feeder containership newbuildings
04.09.2025 / 19:30 CET/CEST
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Hamburg, 04 September 2025 – ElbFeeder, a joint venture of the Icelandic transportation company Eimskip and German listed ship-owner Ernst Russ, has signed contracts for two next generation 2,280 TEU container vessels with the shipyard China Merchants Jin Ling Shipyard (Nanjing) Co. Ltd. The shipyard is part of the China Merchants Industry Group and ranks among China's leading shipbuilders. The deliveries are scheduled for the latter half of 2028. The newbuildings will be an addition to the ElbFeeder joint venture and expand it to a total of nine vessels. Options for two additional vessels were negotiated.

The newbuildings will be employed in the Eimskip Blue Line between Reykjavik and Rotterdam for an initial 10-year period through a time-charter agreement signed in combination with the newbuilding contract. This employment structure enables Eimskip to future-proof their Iceland-Europe trade, while the ElbFeeder joint venture secures long term revenue stream, adding value to the existing portfolio.

The two containerships will each have a capacity of 2,280 TEU and feature a dual-fuel propulsion system, LNG- and methanol-ready, ensuring compliance with future fuel transition pathways. The vessels are specifically designed for the demanding conditions of North Atlantic routes in collaboration with the Shanghai Merchant Ship Design and Research Institute (SDARI). Their optimised hull structure has been engineered to enhance hydrodynamic performance, enabling higher service speeds while maintaining fuel efficiency and operational reliability. The newbuildings combine future-proof, environmentally responsible design with exceptional operational flexibility and cost efficiency. They will be funded through a strategically balanced combination of equity and debt, ensuring both financial flexibility and a sound capital structure.

“We are very pleased to take this important step in renewing our fleet. We see great opportunities with the delivery of these new vessels, especially considering the ambitious plans to increase exports of fresh seafood and salmon. We are proud of the fact that the design of these vessels focuses on customer service, operational efficiency, and reliability. The strong partnership and trust we've built with our co-owners in ElbFeeder, Ernst Russ in Germany, is reflected in this positive outcome and strengthens our continued collaboration”, says Vilhelm Mar Thorsteinsson the CEO of Eimskip.

“This investment will be a milestone for Ernst Russ, marking our first newbuild investment in decades. We are delighted to be able to implement it together with our long-standing partner Eimskip, who will also function as the initial long-term charterer and thus contributes significantly to the financial viability of the project”, says Joseph Schuchmann, Co-CEO and Chief Commercial Officer of Ernst Russ AG.

About Eimskip: Established in 1914, Eimskip is a leading transportation company headquartered in Reykjavík, Iceland. With over 1,700 employees and 57 offices in 20 countries Eimskip operates a fleet of 14 vessels, vast land transportation network, terminal operation and warehouse and cold store facilities.

Eimskip provides container and reefer liner services in the North Atlantic with connections to international markets and specializes in worldwide freight forwarding services with a focus on frozen and chilled commodities. The Company has a strong foundation for customer service excellence and delivering reliable transport solutions.

About Ernst Russ AG : Ernst Russ AG is a publicly listed, internationally operating ship-owner based in Hamburg. Parts of the company's history date back to 1893.

The Group currently manages a fleet of 26 vessels, some in collaboration with strategic partners. The focus is on container vessels ranging from 700 to 4,200 TEU, complemented by a larger 13,400 TEU container vessel, a Handysize bulker, and a multipurpose vessel. The goal is to operate a sustainable fleet with well-diversified employment durations.

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