Tim Huxley-led Mandarin Shipping is cashing in on the sale of one of its five remaining container feederships.

The Hong Kong-based owner is selling the 1,756-teu Mount Gough (built 2016) to French carrier CMA CGM for in excess of $40m, according to European brokers.

The deal marks a significant profit for the boxship tonnage provider, which appears to have timed the sale close to the peak of the market.

The Mount Gough is one of six vessels that Mandarin ordered at Zhejiang Ouhua Shipbuilding in China in 2014.