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CSCL orders eight new containerships for $934m

CSCL orders eight new containerships for $934m
China Shipping Container Lines (CSCL) has ordered eight 13,500 teu containerships at a total price of $934.4m from a Chinese shipyard.

Shanghai Jiangnan Changxing Shipbuilding Co has bagged the order to construct the container newbuildings at a price tag of $116.8m each, or $934.4m in total.

The first of the eight new ships is slated to be delivered by 30 April 2018, and the last will be completed by 31 December 2018.

“The group positively responds to the development trend for large-scale container vessels in the shipping market, adheres to low-carbon environmental protection initiatives and is committed to adjusting and optimising the structure of its fleet,” CSCL said.

“The vessel acquisition will further help optimise the group’s fleet structure, increase shipment scale, and enhance the group’s comprehensive competitiveness,” it added.

CSCL said the newbuilding investments will be funded from internal resources of CSCL HK, its wholly-owned subsidiary, and bank financing.