PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2013

PROPERTY AND EQUIPMENT

Schedule of property and equipment

Property and equipment at December 31, 2013 and 2012 includes the following (in millions):

	As of December 31, 2013
	Cost		Accumulated Depreciation		Net Book Value
Vessels	$	1,260.2	$	718.1	$	542.1
Containers and equipment	470.6		310.4		160.2
Terminal facilities and other property	38.9		30.9		8.0
Construction in progress	25.1		—		25.1
Total	$	1,794.8	$	1,059.4	$	735.4

	As of December 31, 2012
	Cost		Accumulated Depreciation		Net Book Value
Vessels	$	1,249.1	$	679.4	$	569.7
Containers and equipment	468.5		300.1		168.4
Terminal facilities and other property	38.5		28.8		9.7
Construction in progress	14.7		—		14.7
Total	$	1,770.8	$	1,008.3	$	762.5

Schedule of depreciation expense

	Years Ended December 31,
	2013		2012		2011
Depreciation Expense	$	67.4	$	70.6	$	69.4