SITC inks $39m contract to build two container vessels

Hong Kong: SITC International Holdings has through its wholly-owned subsidiary inked contracts on Thursday to build two container vessels for a price of $39m. SITC Development has contracted Dae Sun Shipbuilding & Engineering to construct two 1,040 teu gearless container vessels Delivery of a first vessel is scheduled on or before 30 September 2013 and a second on or before 31 December 2013, SITC International said in a statement. "The construction 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 International said. SITC International had in November last year ordered three container vessels from Dae Sun. "Our goal is to expand the size of our fleet to 60 (container) vessels within the next three years from the current 42, and to 80 in five years," said Yang Shaopeng, chairman and executive director of SITC International. "There is huge and rapidly growing demand for shipping logistics services in Asia," he added. [06/01/11]