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SITC orders up to 12 container vessels from Yangzijiang

SITC orders up to 12 container vessels from Yangzijiang
SITC International Holdings Company has placed an order for up to 12 feeder boxships from China's Yangzijiang Shipbuilding.

Six of the 1,800 teu container vessels are firm orders worth $126m while the remaining six are options.

The six newbuildings will be constructed at Jiangsu Yangzijiang Shipbuilding and Jiangsu New Yangzi Shipbuilding with delivery dates ranging from 30 April 2022 to 31 October 2022.

“The new construction will enable the company to expand its self-owned fleet of container vessels to meet the increase in demand for the company’s services,” Hong Kong-listed SITC stated.

“For the options for the six additional vessels, the company may exercise such options in three separate tranches and for two vessels at one time,” SITC added.

The first tranche of option is exercisable within five months upon the entering of the shipbuilding contracts and the remaining two tranches are exercisable within five months upon the previous tranche of option is being exercised.

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