New Danish container line

[Fotojoe]

Fredriksen to take stake in budget line
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John Fredriksen will invest in the new budget container line The
Container Co but has not yet decided how much money he is prepared to
offer.

According to Mr Fredriksens long-term business partner Tor Olav
Troim, the venture has offered some encouraging economics but the
plans are still at an early stage. The idea is still on the design
board, so no specific capital framework has been decided, Mr Troim
said.

The new line, which is being set up by Jakob Tholstrup-Moller of Oslo
brokerage Boxton Marine, and Franck Kayser, a former senior executive
at Denmarks Maersk Line, is likely to initially target cheap charters
from vessels in lay-up.

While barriers to entry into container shipping have been reduced over
the past year, the TCC venture will still require a significant
investment to get it off the ground. To launch a string with chartered
tonnage is estimated to cost around $20m in the current market.
Confirmation of Mr Fredriksens involvement as an investor will raise
hopes that the company can now meet that level of financing.

Source: Lloyd's List

Hope for the ex Maersk officers ? Presumably not, coz they will run the service with timecharterd tonnage - if they can set it up.