SIMIC

The company is going to sign firm order for up to twelve 4,600 teu container vessels as well as the option for another six of same type of vessels with undisclosed Chinese shipyard.

Total contract value is CNY4.5bn ($696m)

Related: Hapag-Lloyd orders six LNG-powered 23,500 teu containerships

According to Zhonggu Logistics, the vessels will be delivered during two - four years starting from the contract signing date.

Building of the new vessels will strengthen the company’s position in domestic container shipping market, reduce ship operation costs, improve fleet efficiency and increase income, said Zhonggu Logistics.

Established in 2003, Zhonggu Logistics is one of the major domestic container shipping companies in China. Currently, the company operates a fleet of over 100 containerships.