PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2019

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

4.          PROPERTY AND EQUIPMENT

Property and equipment at March 31, 2019 and December 31, 2018 consisted of the following:

	March 31,		December 31,
(In millions)	2019		2018
Cost:
Vessels	$	1,490.1	$	1,489.2
Containers and equipment		514.7		513.6
Terminal facilities and other property		66.0		66.0
Vessel construction in progress		512.6		487.2
Other construction in progress		70.0		59.2
Total Property and Equipment		2,653.4		2,615.2
Less: Accumulated Depreciation		(1,267.2)		(1,248.6)
Total Property and Equipment, net	$	1,386.2	$	1,366.6

Vessel construction in progress relates to progress payments for the construction of three new vessels, capitalized owner’s items and capitalized interest.  Capitalized interest included in vessel construction in progress was $21.0 million and $16.3 million at March 31, 2019 and December 31, 2018, respectively.