Global Feeder Shipping adds to fleet with panamax acquisition

Dubai-based feeder boxship operator Global Feeder Shipping (GFS) has added to its fleet with the acquisition of 2008-built 3,534 teu boxship Guenther Schulte.

The vessel, acquired from Germany’s Schulte Group, has been renamed GFS Precious and is set to sail on the company’s Jebel Ali – Jeddah service.

According to VesselsValue, GFS paid $55m for the vessel which is slightly more than the online portal’s valuation of $52.61m.

GFS currently lists a fleet of 22 ships on its website. The company took over the liner operations of Dubai-based Simatech in 2018, and mainly provides services in the Middle East Gulf and between the Middle East and the Indian sub-continent.