Private equity-backed Borealis Maritime has moved into the smaller-boxship sector with its fifth vessel purchase in as many months.
The London-based shipping investor has picked up the 1,300-teu Montana (built 2007) at auction in Hong Kong for around $8.6m. The vessel was acquired at the second auction attempt after bids submitted by buyers came in below the reserve price, TradeWinds understands.
Insolvency
