Tehama Shipping acquires third boxship

Dubai-headquartered Tehama Shipping, part of Saba Group which operates a container terminal at Iraq’s Umm Qasr South, has acquired its third and largest container vessel according to brokers.

Advanced Shipping & Trading and Seasure Shipbroking are reporting that the company has acquired 2004-built sub-panamax Gisele A (2,764 teu) from Turkey’s Arkas Denizcilik for $6.8m-$6.9m. VesselsValue gives the vessel a market value  of $5.39m, although brokers note the vessel has just passed its special survey.

The acquisition brings the Tehama Shipping fleet to three, the Gisele A joining the 1999-built 1,096 teu Venus and 2000-built 2,478 teu TSS Neptune.