SIMIC

Katherine Si | Aug 03, 2022

The total contract value is $110m. CA Shipping has further entered into an option agreement with Huangpu Wenchong Shipbuilding and has purchase options to acquire four more vessels at the same consideration of $110m.

The first four vessels are expected to be delivered at the end of July, September, November 2024 and the end of March 2025, respectively. The option vessels are scheduled for delivery in April, June, August and October 2025 if the purchase options are exercised finally. 

Related: CSSC newbuild order volume up 147% in January

The acquisitions represent a strategic move for the group to expand the proportion of feeder containerships in its vessel portfolio, said CSSC Shipping, the purchase of vessels from CSSC Group and its associates enables the group to secure the earliest possible ship delivery timetable, which will improve the ultimate operation efficiency.