CIMC Places Order for Seven 8,800 TEU Containerships

cimc logoChina International Marine Containers Group (2039:HK) announced today they have signed a USD $595.00 million newbuild contract with Dalian Shipbuilding (DSIC) for seven, 8,800 TEU containerships.

Upon delivery of the vessels in 2015 and 2016, the ships will be immediately placed on long term (204 month) charter contracts with Mediterranean Shipping Company (MSC) at a day rate of USD $25,000.00 per vessel per day.

Following expiration of the charter contracts, the vessels will be sold to MSC for a consideration of USD $21.5 million.