Tiphook Finances TEU Order Outside of Europe

Tiphook Plc, Europe’s largest container and trailer rental group, has completed the purchase of 20,000 new TEU’s. The cost of the newbuilding project was $50m, and was financed through a loan arranged by the CIT Group in New York.

The container giant has been busy expanding through its own internal growth and through acquisition. Tiphook, which last year acquired Sea Containers, increased its owned and leased container fleet by over 200,000 TEU equivalent units in the transaction. Outside of that, the company has been expanding its container fleet at a rate of approximately 40,000-50,000 TEUs per year for the last couple of years. In addition, Marine Money has learned that the company is looking into available options that would permit it to increase its sources of capital in the United States, possibly through increasing its ADR listing.

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