Hamburg, 26 August 2021 - A subsidiary of Ernst Russ AG acquired a 2010 built container vessel with a total capacity of around 1,300 TEU from EF Eliza Ltd., a wholly owned subsidiary of ElbFeeder Inc.

Ernst Russ AG is holding a majority share in ElbFeeder Inc. of around 52%. The icelandic shipping company Eimskip has a stake of around 48% in the holding company.

The selling company EF Eliza Ltd. was already fully consolidated in the consolidated financial statements of Ernst Russ AG. With this transaction, the Ernst Russ Group will fully participate in the economic success of this vessel in the future.

The delivery of the ship is scheduled for September 2021. The parties have agreed not to disclose the transaction details.

About Ernst Russ Group: Ernst Russ AG is an international shipping company and maritime investment manager based in Hamburg. Parts of the company date back to 1893.