Chinese domestic container shipping major Zhonggu Logistics has placed an order at Yangzijiang Shipbuilding for the construction of ten 4,600 teu containerships as part of its recently announced newbuild program.
The company revealed a plan last month to build up to eighteen 4,600 teu ships, and the total value of the contracts will be around RMB4.5bn ($695m).
The vessels are expected to be delivered in the next 2-4 years and will be deployed for domestic coastal shipping services.
The newbuilding contracts will be funded by the proceeds from the IPO the company completed in September last year.
Alphaliner data shows Zhonggu Logistics operates a fleet of 116 ships with total capacity of 171,459 teu, making it the largest domestic containerline in China.