Ernst Russ Sells Containership Mirror, Shifts Focus Toward Tankers

German shipping company Ernst Russ sold the containership MV Mirror, the third vessel in this segment to be divested so far this year. The deal is part of the company's strategy to diversify its fleet, reducing exposure to older container vessels in order to strengthen its presence in the tanker segment.

The Mirror was built in 2007 and has a capacity of 803 TEU. The company, which is listed in Frankfurt, confirmed the sale without disclosing the buyer's name or the agreed price. The vessel's delivery to the new owner is expected to take place in January 2027, meaning the transaction will have no impact on the company's assets, financial position or results for fiscal year 2026.

This sale follows the earlier divestment this year of the vessels MV EF Emira and MV EF Emma. Ernst Russ Co-CEO and Chief Commercial Officer Joseph Schuchmann stated that the sale of the Mirror reflects the company's disciplined approach to fleet development, which includes divesting existing vessels at the right time while adding new tonnage in an equally selective manner, constantly monitoring the market for both sales and acquisitions.

The Mirror was part of a group of six feeder vessels in which Ernst Russ had bought back its joint venture partners' stakes in October of last year, as part of a process to simplify the group's corporate structure. At the same time, the company stepped up its push into tankers: in September it added two newbuildings of 18,500 deadweight tonnes for chemicals and products at the Wuhu shipyard in China, bringing the program to six vessels, both chartered to trading house Cargill for at least three years, adding around US$38.3 million to contracted charter revenue.

That addition came on top of an initial acquisition of four tankers made in April, with both packages together generating a combined contracted charter backlog of around US$164 million. Ernst Russ also expanded its presence in multipurpose vessels by acquiring two heavylift units this year under seven-year contracts with dship Carriers, while on October 27 it took delivery of the new tanker MT Farrie Russ.