v3.25.2
PROPERTY AND EQUIPMENT
6 Months Ended
Jun. 30, 2025
PROPERTY AND EQUIPMENT  
PROPERTY AND EQUIPMENT

5.          PROPERTY AND EQUIPMENT

Property and equipment as of June 30, 2025 and December 31, 2024 consisted of the following:

June 30, 

December 31, 

(In millions)

    

2025

    

2024

Cost:

Vessels

$

2,487.0

$

2,475.2

Containers and equipment

910.8

883.8

Terminal equipment and other property

152.8

152.3

New vessel construction in progress

302.9

198.8

Other construction in progress

63.0

42.6

Total Property and Equipment

3,916.5

3,752.7

Less: Accumulated Depreciation

(1,556.8)

(1,491.8)

Total Property and Equipment, net

$

2,359.7

$

2,260.9

New vessel construction in progress at June 30, 2025 and December 31, 2024 includes milestone progress payments, capitalized interest and other costs related to the construction of three new Jones Act vessels.