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Home News Eastern Pacific books three more 7,000TEU ships at New Times

Eastern Pacific books three more 7,000TEU ships at New Times

Eastern Pacific Shipping has returned to New Times Shipbuilding for three more 7,000TEU container ships.

The Singapore-based outfit, owned by Idan Ofer, commissioned the additional vessels after an initial order for four ships in the privately-owned Chinese shipyard in June.

It is believed that the vessels were ordered on the back of a long-term charter to Singapore-based X-Press Feeders.

Several liner operators and tonnage providers have been keen on 7,000TEU ships, which are commonly deployed to mid-haul lanes such as Far East-Persian Gulf, Far East-South Asia and Far East-Australia/New Zealand.

These lanes have been neglected by mainline operators, due to much higher freight rates on the longer-haul Asia-Europe and Trans-Pacific routes.

Taiwanese liner operator TS Lines, Singapore-based feeder operator X-Press Feeders, Canadian tonnage provider Seaspan Corporation and Singapore-based tonnage providers Eastern Pacific Shipping and Asiatic Lloyd Shipping have all ordered 7,000TEU ships from New Times Shipbuilding, Shanghai Waigaoqiao Shipbuilding and Dalian Shipbuilding Industry Company this year.

Recenty, Seaspan commissioned ten 7,000TEU vessels at Waigaoqiao for long-term charter to Ocean Network Express (ONE).

Martina Li
Asia Correspondent

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