The fleet rejuvenation project at Sinokor proceeds at speed. The South Korean line has ordered 20 feeder boxships, split between three yards controlled China State Shipbuilding Corporation (CSSC). Huangpu Wenchong and Chengxi Shipyard will build eight 1,100 teu ships each for delivery from late next year and throughout 2021. Jiangnan Shipyard has also received a contract from Sinokor to build four 2,400 teu ships for delivery in 2021. No price has been revealed for this bumper boxship order.
Sinokor has placed many of its oldest ships for sale over the past 18 months while embarking on a notable ordering binge with more than 20 newcastlemax bulkers ordered in China as well as a pair of VLCCs at Hyundai Heavy Industries.
Sinokor and compatriot intra-Asia specialist Heung-A Shipping have inked plans to merge their container businesses in a deal that should go through in the coming couple of months. The combined entity would control a fleet of around 100,000 teu pushing it within the top 20 ranks of global liners.