Icelandic container line Eimskip is targeting distressed vessel buys after it announced two sale and purchase deals.

The company said it sold its 724-teu boxship Bruarfoss (built 1992) and bought the Draxl Schiffahrts-owned 698-teu Sophia (built 2008).

This ship will be handed over in May.

Eimskip said it was continuing to upgrade and renew the fleet.

"We are going to continue to take advantage of the depressed shipping market and our strong financial condition to purchase attractively priced used vessels," it added.

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