PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 2018

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

4.          PROPERTY AND EQUIPMENT

Property and equipment at September 30, 2018 and December 31, 2017 consisted of the following:

	September 30,		December 31,
(In millions)	2018		2017
Cost:
Vessels	$	1,414.5	$	1,433.6
Containers and equipment		512.8		543.0
Terminal facilities and other property		65.9		64.8
Vessel construction in progress		599.2		376.6
Other construction in progress		49.0		26.2
Total Property and Equipment		2,641.4		2,444.2
Less: Accumulated Depreciation		(1,294.2)		(1,278.5)
Total Property and Equipment, net	$	1,347.2	$	1,165.7

Vessel construction in progress relates to progress payments for the construction of four new vessels to be used within the Hawaii service, capitalized owners’ items and capitalized interest.  Capitalized interest included in vessel construction in progress was $23.8 million and $10.4 million at September 30, 2018 and December 31, 2017, respectively.