The new containerships are intended for Eimskip’s Blue Line service, which connects Reykjavík, Rotterdam and Teesport. They will operate under a 10-year charter agreement and represent the largest vessels in Eimskip’s fleet. According to the company, these additions will strengthen service capacity on the North Atlantic route.
Built specifically for the region, the ships will incorporate advanced design features such as optimised hulls, silicone coating, and shore power readiness. They will also be equipped with dual-fuel engines capable of running on methanol and LNG, aligning with evolving efficiency and fuel transition requirements.
Financing for the project will combine equity and debt raised at ElbFeeder. For Eimskip, the financial commitment includes a lease liability of approximately $86 million in 2028 linked to the 10-year charter, partly balanced by the expiration of current Blue Line vessel leases.
Eimskip CEO Vilhelm Már Thorsteinsson emphasised the strategic value of the order: “This project supports our seafood export growth and renewal of the fleet.” Ernst Russ co-CEO Joseph Schuchmann highlighted the importance of the deal, describing it as a milestone and pointing out that it represents the company’s first newbuild order in decades.
The agreement demonstrates how established carriers are adapting their fleets to meet future trade requirements while addressing environmental and operational considerations. The vessels’ dual-fuel readiness and energy-saving features indicate an emphasis on long-term sustainability in North Atlantic shipping.
By adding larger and more efficient ships to the Blue Line service, Eimskip aims to reinforce its logistics role in supporting Iceland’s seafood exports to key European markets. At the same time, Ernst Russ strengthens its position in container shipping through renewed investment in modern tonnage after years without commissioning new builds.
The cooperation underscores the value of joint ventures in managing both operational needs and financial responsibilities. For ElbFeeder, the investment ensures fleet growth and service enhancement, while for Eimskip it secures long-term access to larger and more capable ships under fixed charter terms.
The deliveries scheduled for 2028 will mark a significant step in the companies’ ongoing efforts to balance commercial growth with operational efficiency and environmental performance. The project is expected to play an important role in strengthening North Atlantic container services and ensuring reliable transport capacity for exports.
