Costamare has emerged as the buyer behind the acquisition of a containership caught up in the collapse of a German KG (limited partnership).

The New York-listed operator says an insolvency administrator has approved the purchase of the 1,078-teu Stadt Luebeck(built 2001) at a cost of $11.3m from a fund linked to Lloyds Fonds.

TradeWinds detailed the sale in an article outlining the plight of the German finance house and a its rescue plan on 11 July.

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