According to VesselsValue, the vessel, which has been renamed GFS Perfect, was sold for $10 million late last year. The online pricing site now values the secondhand boxship at about $17.61 million, thanks to a stunning increase in secondhand boxship rates.

The ship arrived at GFS last week and will be used in the Arabian Gulf at first.

GFS has been on a purchasing spree lately, purchasing seven containerships since August of last year.

In 2018, the company purchased Dubai-based Simatech's liner operations, and it primarily provides services in the Middle East Gulf and between the Middle East and the Indian subcontinent.

Maritime Business World