China Shipping orders four 4,250 TEUs ships, 13,500 TEUs of containers

China Shipping orders four 4,250 TEUs ships, 13,500 TEUs of containers

   China Shipping Container Lines has committed about $250 million ordering four 4,250-TEU containerships and an aggregate 13,500 TEUs worth of containers.

   The ships will be constructed by Dalian Shipbuilding Industry Co. Ltd. and cost $230.8 million. The first of the four vessels is scheduled for delivery by the end of September 2008, and the rest before March 31, 2009.

   At the same time, China Shipping has agreed to buy 13,500 TEUs worth of containers from its subsidiary company Dong Fang International Container (Lianyungang) Co. Ltd. (DFIC) for a purchase price of $18.99 million. Since Oct. 31, China Shipping has purchased 20,000 TEUs of containers from DFIC costing about $31.3 million.

   The latest containers are to be delivered between Jan. 15 and Feb. 7. The order includes:

   * 5,500 20-foot general-purpose containers costing $1,498 each.

   * 2,000 20-foot general-purpose containers at $1,548 each.

   * 1,500 40-foot general-purpose containers at $2,476.80 each.

   * 1,500 40-foot general-purpose high type containers at $2,631.60 each.

   China Shipping’s vessel fleet has a capacity of 347,841 TEUs. “The group is in great need of additional containers to support its increased shipping volumes at this stage,” China Shipping said.