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SITC buys Yangzijiang 2,700 teu quartet

China’s largest private boxline continues its busy year of expansion. SITC has ordered four tier III 2,700 teu ships at Yangzijiang Shipbuilding with brokers Braemar ACM suggesting the Shanghai line is paying $28m for the ships which come with very prompt delivery dates of the second quarter next year, suggesting the deal is in fact for resales.

“With negative fleet growth in this size, such orders from end users should not come as a surprise,” Braemar ACM noted in a weekly container report.

SITC has been very active in the secondhand and newbuild markets this year. It lies 19th in the global liner rankings compiled by Alphaliner with a fleet of around 108,000 slots, having grown by around 15% in 2017.

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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