ElbFeeder, a joint venture (JV) of the Icelandic transportation company Eimskip and German shipowner Ernst Russ, has ordered two next-generation dual-fuel 2,280 TEU container vessels in China.
As informed, the JV has signed contracts with China Merchants JinLing Shipyard (Nanjing), part of the China Merchants Industry Group. 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.
Specifically, the two containerships will feature a dual-fuel propulsion system, LNG- and methanol-ready , ensuring compliance with future fuel transition pathways. They will feature a length of 185 meters and a width of 29.4 meters.
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 optimized hull structure has been engineered to enhance hydrodynamic performance, enabling higher service speeds while maintaining fuel efficiency and operational reliability, according to the JV.
The newbuildings will be employed on the Eimskip Blue Line between Reykjavik and Rotterdam for an initial 10-year period, as per a time-charter agreement signed in conjunction with the newbuilding contract. This employment structure enables Eimskip to future-proof its Iceland-Europe trade, while the ElbFeeder joint venture secures long-term revenue stream, adding value to the existing portfolio.
The containerships are said to combine future-proof, environmentally responsible design with 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,” Vilhelm Mar Thorsteinsson , CEO of Eimskip, commented.
“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,” Joseph Schuchmann , Co-CEO and Chief Commercial Officer of Ernst Russ AG, said.
Eimskip operates a fleet of 14 vessels, vast land transportation network, terminal operation and warehouse and cold store facilities, while Ernst Russ manages a fleet of 26 vessels, some in collaboration with strategic partners.