Oslo-based ship investment company, SinOceanic Shipping ASA, has entered into a contract with Jinhai Heavy Industries to build ten, 8,800 TEU state-of-the art containerships.
The total transaction, consisting of the combined value of the vessels and the charter parties, has a total gross value of approximately USD $2.4 billion according to the company’s statement.
SinOceanic notes that they will outsource all operational and technical management of the vessels upon their delivery. The first vessel is expected in mid-2015 and long-term charter contracts will be sought for all vessels.
According to their Q1 report dated 15 May 2013, SinOceanic has ambitions “to reach a container fleet of 100,000-120,000 TEU lifting capacity within 24 months,” via acquisitions of “modern and standard vessels with charters attached and with appreciation potential.”
SinOceanic’s management consists entirely of former executives from BW Gas and majority owned by Cyprus-based Sinindo Holding Ltd.
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
Four sailors have been rescued from a life raft in the South Pacific after their yacht struck a whale and began taking on water about 250 nautical miles north of...
The Drewry World Container Index edged lower this week as falling Asia-Europe rates outweighed firmer pricing on the Transpacific, with carriers preparing another round of blank sailings ahead of China’s...
The container shipping market is still benefiting from geopolitical disruption and longer sailing distances in 2026, but a rapidly expanding fleet could turn that support into a supply problem next...
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
