Charterers join in as Cosco heads a flurry of box ship newbuild orders
Newbuilding orders over the past week show that Cosco Shipping Lines is on a fleet ...
Credit Yangzijiang Shipbulding.
By Alison Koo
Chinese shipbuilder Yangzijiang has disclosed that Seaspan was behind orders for two 11,800 teu ships in September.
Clarksons indicated that the vessels would be built at the shipbuilding group’s Xinfu yard, for delivery in 2028.
Seaspan has not disclosed if a charterer has been secured for the conventionally fuelled vessels. The Canadian company, the world’s largest non-operating owner of containerships, has recently reflagged more than 60 vessels from Hong Kong to Singapore.
While speculation indicated the move is aimed at avoiding hefty US port fees on Chinese-built ships, as many of Seaspan’s vessels are built in China. or it may be taking advantage of the preferential tax regime of Singapore-flagged vessels. Qualifying income from operating Singapore-flagged vessels is tax-exempt.
Meanwhile, Eyal Ofer’s Zodiac Maritime is said to have commissioned five 6,000 teu ships at China Merchants Jinling Shipyard (Nanjing), for delivery between 2027 and 2028. They are priced around $78m each and will reportedly be chartered to Cosco Shipping Lines.
Finally, Evangelos Marinakis’ Capital Containers Ship Management has returned to HD Hyundai Mipo for two more 2,800 teu ships and one 1,800 teu vessel, raising its newbuilding tally at the South Korean shipyard to 19 feeders. The total contract value of the ships, slated for delivery in late 2027, is $158.7m.
With growth in regional trades outpacing long-haul routes, tonnage providers and liner operators are maintaining their interest in feeder and mid-sized vessels that cater to these trades. The fleet in this size range is also ageing, prompting renewal requirements.
MB Shipbrokers however, indicated that more orders for large vessels were imminent.
The Danish broker said: “We see indications that activity in the larger segments, of 10,000 teu and above, is gaining pace; liners are actively discussing projects, and we’re expecting deals to firm up in the near future.”
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