PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2025

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

5.          PROPERTY AND EQUIPMENT

Property and equipment as of March 31, 2025 and December 31, 2024 consisted of the following:

	March 31,		December 31,
(In millions)	2025		2024
Cost:
Vessels	$	2,479.0	$	2,475.2
Containers and equipment		886.2		883.8
Terminal equipment and other property		152.5		152.3
New vessel construction in progress		265.5		198.8
Other construction in progress		53.9		42.6
Total Property and Equipment		3,837.1		3,752.7
Less: Accumulated Depreciation		(1,523.1)		(1,491.8)
Total Property and Equipment, net	$	2,314.0	$	2,260.9

New vessel construction in progress at March 31, 2025 and December 31, 2024 includes milestone progress payments, capitalized interest and other costs related to the construction of three new Jones Act vessels.