The ship is said to have fetched between $11m and $11.5m, a little over its demolition price.

The company is also believed to have bought two 1,070-teu heavylift multipurpose (MPP) units through its exclusive broker, Istanbul-based Pelikan Shipping & Trading.

The HR Indication and HR Intonation (both built 2000) were managed by Hammonia Reederei on behalf of HCI Capital, one of Germany’s largest issuing houses for closed-end funds.