SITC boosts feeder fleet

Hong Kong-headquartered intra-Asia specialist, SITC has made another foray into the newbuildings market with an order for three 2,700 teu boxships from Yangzijiang Shipbuilding. The total cost is US$87.9m.

Deliveries of the new orders are scheduled for October 2020, December 2020 and February 2021.

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

SITC sealed a deal for two 2,400 teu containerships in June 2018, at the same shipyard. The two vessels, which came with a combined price tag of US$58m, are slated for delivery in September and November 2020. The US$4m premium paid for this pair reflects the perception that the numbers of smaller vessels currently on the water have failed to keep up with the surge in mega containerships.

In August 2017 SITC paid US$68m for four 1,011 teu containerships with Korea’s Dae Sun Shipbuilding & Engineering.

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