SITC Decides to Build Containership Options

Chinese shipping major SITC International Holdings Company Limited has decided to exercise options for the construction of two containerships at Jiangsu Yangzi Shipbuilding.

The order comes on the back of a shipbuilding agreement signed on November 29, 2017, between SITC Shipowning and Jiangsu Tianchen Marine Import & Export for two new container vessels, which included options.

SITC Shipowning, a SITC subsidiary, exercised the options for two 2,400 TEU ships on January 26 at an aggregate contract price of USD 50 million.

The first of these is scheduled to be handed over by late February 2020, while the second vessel would join the fleet by late April 2020.

The two ships ordered in November are set to be delivered in October and December 2019, respectively.

SITC informed that the payment of the contract price will be made in instalments in accordance with the progress of the constructions.