Idan Ofer’s Singapore-based shipowning outfit Eastern Pacific Shipping has sold its 2003-built Panamax boxship Chesapeake Bay to Hapag-Lloyd for an eye-watering price of $55m.

The 4，253 TEU boxship has a value of $47.57m according to the online pricing portal VesselsValue， while MSI values the ship much closer to the sale price with a valuation of $54.6m.

Eastern Pacific will be happy with the sale， either way， having ordered the vessel from Samsung Heavy in 2000 and taking delivery in April 2003， trading it for almost 19 years. The ship’s latest charter has been with Maersk at a rate of $30，000 per day， according to VesselsValue.