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Tuesday, April 13, 2021
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Chinese shipyards win giant container ship order

Chinese shipyards will build six 24,232TEU containerships, the largest in the world as of today, that the Bank of Communications Financial Leasing (Bocomm Leasing) has fixed to Mediterranean Shipping Company (MSC) on long-term charters.

Bocomm Leasing has commissioned the newbuildings at Yangzijiang Shipbuilding, Hudong-Zhonghua Shipbuilding and Jiangnan Shipyard. Each ship is priced at US$150 million, according to shipbrokers, meaning that all the newbuildings will cost US$900 million. The newbuildings will be delivered between 2023 and 2024.

Yangzijiang’s executive chairman and CEO Ren Letian said that winning the orders has elevated the shipbuilder’s status as the vessels will be the largest container ships it has built.

The two ultra-large containerships will also be the largest in Yangzijiang’s containership portfolio, a significant step-up from the 10,000TEU, 12,690TEU and 14,000TEU containerships that it currently offers.

Amid a remarkable rebound in container freight rates, mainline operators are now in the market for new and bigger ships.

Ocean Network Express has signed a letter of intent with Imabari Shipbuilding’s shipowning affiliate Shoei Kisen Kaisha to take six 24,000TEU newbuildings on a 15-year period charter while Hapag-Lloyd has ordered six 23,500TEU newbuildings from Daewoo Shipbuilding & Marine Engineering.

COSCO Shipping’s Hong Kong based subsidiary OOCL has also ordered a dozen 23,000TEU container ships, at affiliated shipbuilders Dalian COSCO KHI Ship Engineering and Nantong COSCO KHI Ship Engineering.

Martina Li
Asia Correspondent

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