Shipowners that bought sub-panamax boxships just a few months ago are doubling their money.
The latest to benefit is Norwegian owner Arne Blystad, who is profiting from the well-timed purchase of a sub-panamax boxship.
His private shipping interests picked up the 2,846-teu Robin 1 (ex-Algarroba, built 2009) barely one month ago for about $6m less than it is estimated to be worth today.
