Cido makes boxship return

Cido Shipping has made a boxship return after a three and a half year hiatus with orders for two plus two 15,900 teu ships at Hyundai Heavy Industries in South Korea.

Brokers Intermodal put a price of $126m for each unit. The ships will deliver in 2022 and 2023 and are earmarked for long-term charter to Mediterranean Shipping Co (MSC), according to Alphaliner.

Cido, a South Korean shipping giant which operates out of Seoul and Hong Kong, exited the container scene in 2017 with the sale of 10 ships in a $130m en bloc deal with MPC Container Ships.

Cido operates a diverse fleet, which today consists of nine bulkers, 22 tankers, three gas carriers and 35 car carriers according to online ship pricing portal VesselsValue.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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