SITC returned to China's largest private shipyard for another order

Taking advantage of the rapid increase in ship prices in the shipping market, SITC International continued to accelerate its fleet expansion. Following the order for 8 feeder ships from Dae Sun Shipbuilding last week, SITC International returned to Yangzijiang Shipbuilding to order 8 more container ships.

So far, SITC International has placed orders for 35 feeder container ships, with a total value of about $814 million.
 
On June 2, SITC announced that it has confirmed the execution of an alternative order for four 1800TEU and four 2600TEU container ships from Yangzijiang Shipbuilding Group, with a total price of about $192 million. The eight new ships will be delivered between November 2022 and May 2023.
 
Last August, SITC signed a contract with Yangzijiang to build 6+6 1800TEU container ships, followed by confirmation of the first two vessels in the effective alternative order in November. The contract is for the latter four vessels at a price of $84 million and a cost of $21 million each. With the first eight, the 12 1800TEU container ships have a total value of $252 million.
 
In addition, SITC signed 6 + 4 2600TEU container ships with Yangzijiang in December last year. Four alternative vessels have been awarded for a contract price of $108 million at a cost of $27 million each. With the first six, a total of 10 2600TEU container ships has a total value of $270 million.
 
SITC International is one of the leading shipping logistics companies in Asia, providing integrated transportation and logistics solutions. As the business scale continues to expand, the company will continue to optimize its unique operating model and expand its service network in Asia. At the same time, it will grasp the trend of ship prices in a timely manner, optimize the structure of its own fleet to meet the needs of business development, and further maintain long-term cost advantages.
 
Source: Sarah Yu, XINDE MARINE NEWS

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