Core Insights - Eimskipafélag Íslands hf. has approved contracts for two new 2,280 TEU container vessels and a ten-year time-charter with ElbFeeder, aimed at enhancing transportation services between Reykjavík, Iceland, and Rotterdam, as well as Teesport in the UK [1][6] Company Developments - The new vessels are designed to meet growing customer demand for fresh cargo transportation, particularly due to increased exports of fresh seafood and farmed salmon, with further growth anticipated from land-based salmon farming in Iceland [2][7] - The vessels will be larger than those currently servicing the route, supporting growth in both the Blue Line and Trans-Atlantic services, which are crucial for Eimskip's operations between Iceland and North America [2][4] Vessel Specifications - The new vessels will have a capacity of 2,280 TEU, measuring 185 meters in length and 29.4 meters in breadth, making them the largest in Eimskip's fleet [4] - They will be designed for optimal service speed, reliability, and maneuverability in North Atlantic conditions, with a focus on energy efficiency and environmental sustainability, featuring a dual-fuel propulsion system [5][8] Financial Aspects - ElbFeeder, which operates seven container vessels, will fund the newbuilds through a mix of equity and debt, with an expected lease liability of USD 86 million for Eimskip in 2028 [6] - The partnership with ElbFeeder is expected to enhance the financial viability of the project, marking a significant investment milestone for Ernst Russ, the majority owner of ElbFeeder [9]