Sinotrans Shipping books four 1,900 teu boxships at $98m

The four newbuildings, each costing $24.55m, are scheduled to be delivered from the shipyard in May, June, September and November 2017, respectively.

Sinotrans Shipping said that the “construction cost of new vessels is relatively low and the company has an advantage of sufficient capital resources, the construction of such energy-saving containerships will enable the company to optimise the composition of its fleet of containerships”.

It added that it can also expand the capacity of its self-owned fleet and reduce the ship chartering cost.

Meanwhile, Sinotrans & CSC Group, parent of Sinotrans Shipping, may merge with China Merchants Energy Shipping (CMES), as part of a wider consolidation among China’s state-owned corporations so as to streamline operations.