SITC continues fleet expansion programme as first-half profits triple
With its profits having tripled, SITC International said it would continue to acquire second-hand ships ...
PanStar Line, the South Korean passenger and cargo ship operator which recently reported soaring express cargo volumes, yesterday ordered a cruise ship which has 250 teu of container capacity.
The ship, able to carry 399 people, was ordered at Dae Sun Shipbuilding & Engineering, and the newbuilding contract was signed at the PanStar group’s headquarters in Busan. The newbuilding price was not disclosed.
The PanStar group said that in expectations of an eventual recovery in tourism post-Covid, it wants to expand its cruise and cargo volumes.
The ship, described by PanStar as “a hotel on the sea”, will, upon delivery in 2025, be deployed to the Busan-Osaka route. The vessel will be equipped with luxury facilities, such as jacuzzis, saunas, an outdoor swimming pool, jogging track, and balconies in all passenger cabins.
The ship will feature an eco-friendly hybrid propulsion that substantially reduces fuel consumption and emissions, with an electric motor.
In 2005, the PanStar group started a regular Busan-Osaka cruise with the PanStar Dream.
It is Dae Sun Shipbuilding’s first cruise ship order, having focused on feeder ships and small chemical tankers, although the shipyard had previously built four coastal ferries.
In a joint statement, PanStar Group and Dae Sun said: “Local shipping and shipbuilding companies, as well as the Korea Ocean Business and Korea Development Bank, are working together to build this cruise ship, which will serve as a good example of win-win development.”
PanStar Line recently increased sailings on the Busan-Osaka route to cater to rising cargo volume, as passenger numbers tanked as a result of Covid-19-related travel restrictions.
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