SITC Container Lines

Visayas Container Terminal welcomes inaugural CPX6 service call

Visayas Container Terminal (VCT), a business unit of International Container Terminal Services, Inc. (ICTSI) at the Port of Iloilo in Panay, Philippines, welcomed the inaugural call of SITC Container Lines’ CPX6 service on 6 May.

“Iloilo is strategically located at the centre of the Visayas, the second largest economic region in the Philippines. With the region earmarked for future economic development, we are pleased to collaborate with SITC in connecting the Visayas to China directly. The...

https://container-news.com/visayas-container-terminal-welcomes-inaugural-cpx6-service-call/

Update: SITC boxship collision with Chinese fishing trawler; bodies of all eight fishing crew recovered

All eight crew on a Chinese fishing trawler have been confirmed to have perished after their vessel collided with a boxship operated by SITC Container Lines.

According to the Hainan Island branch of China’s maritime search and rescue centre today (10 April), the bodies of all eight men on the trawler, have been found, exactly a week after the accident off the island’s southwestern coast. The trawler, Yuenan Aoyu 36062, capsized.

Naval divers and rescue personnel from Guangzhou Salvage Bureau were...

https://container-news.com/update-sitc-boxship-collision-with-chinese-fishing-trawler-bodies-of-all-eight-fishing-crew-recovered/

Eight missing after SITC boxship collides with Chinese fishing trawler

A ship operated by SITC Container Lines collided with a Chinese fishing trawler off Hainan Island, China just after midnight local time on 3 April, leaving eight persons missing after the trawler capsized.

The Panama-flagged ship, 1,032 TEU SITC Danang had just departed China’s Qinzhou port and was on its way to Ho Chi Minh City, Vietnam, when the accident happened around 12.15 am local time.

The collision with the fishing trawler, Yuenan Aoyu 36062, occurred 22 nautical miles southwest of...

https://container-news.com/eight-missing-after-sitc-boxship-collides-with-chinese-fishing-trawler/

SITC International spends over US$100 million buying ships and containers from associate

SITC International Holdings, the holding company of Hong Kong-based intra-Asia carrier SITC Container Lines, said on 21 September that it will spend over US$100 million to buy five existing ships and two newbuildings from an associated company.

The associate, SITC Investment, is a British Virgin Islands-incorporated entity owned by SITC Maritime Group, a China-registered private company owned by SITC Maritime Group, which is held by SITC International chairman Yang Shaopeng.

Built between 2000...

https://container-news.com/sitc-international-spends-over-us100-million-buying-ships-and-containers-from-associate/

SITC exits dry bulk segment after selling off its entire fleet

SITC International Holdings has completed the sell-off of its entire bulk carrier fleet. The Hong Kong-based SITC, the parent company of intra-Asia box carrier SITC Container Lines, marks its exit from the dry bulk segment as the group wants to focus on its core container shipping business.

The online valuation and shipping data provider, VesselsValue report that SITC’s last two bulk carriers, SITC Zhoushan and SITC Lushan, were sold for US$22 million each to Vietnamese dry bulk carrier operator...

https://container-news.com/sitc-exits-dry-bulk-segment-after-selling-off-its-entire-fleet/

SITC goes to Huanghai for ten 1,800 TEU ships

SITC International, the parent company of intra-Asia carrier SITC Container Lines, continued its tonnage run, booking ten 1,800 TEU ships at China’s Huanghai Shipbuilding on 29 April.

Huanghai did not disclose the newbuilding price, but based on similar ships ordered at the shipyard this year, the price is around US$32.6 million each.

Each vessel has a 171.9m length, a 28.4m width and a 14.5m height. China Classification Society has been chosen to class the ships.

SITC, which saw its 2021 net...

https://container-news.com/sitc-goes-to-huanghai-for-ten-1800-teu-ships/

SITC to exit dry bulk sector, focusses on container shipping

Hong Kong-headquartered SITC International Holdings, the parent company of intra-Asia carrier SITC Container Lines, will sell its five remaining bulk carriers to focus on its core business of container shipping.

SITC is now the world’s 15th largest liner operator, with a shipping capacity of around 148,000 TEU.

A company representative told Container News that two other bulk carriers, SITC Huangshan and SITC Taishan, were sold in November 2021 and February 2022, for US$22 million and US$18.25...

https://container-news.com/sitc-to-exit-dry-bulk-sector-focusses-on-container-shipping/

Korean antitrust body slaps $81m fine on price-fixing liner operators

The Korea Fair Trade Commission (KFTC) has fined 23 liner operators a total of $81m for ‘fixing’ freight rates on the South Korea to South-east Asia lane between 2003 and 2018.
Most of the major liner operators and a number of regional carriers were among those fined, including HMM, SM Line, Korea Marine Transport (KMTC Line), Pan Ocean, Sinokor, Maersk, Evergreen, Yang Ming, Wan Hai, SITC and Cosco.
KMTC received the heaviest penalty, …

The post Korean antitrust body slaps $81m fine on...

https://theloadstar.com/korean-antitrust-body-slaps-81m-fine-on-price-fixing-liner-operators/

Schoeller Holdings sells its boxship fleet in leaseback deal

Schoeller Holdings has sold its 17 containerships to China Development Bank Financial Leasing in a leaseback arrangement.
Included in the $142m transaction are four of Schoeller’s five tankers, which will also be leased back.
CDB Leasing said, in a Hong Kong Stock Exchange filing today, the ships would be leased back to the seller for three to five years, after which Schoeller may buy them back, after paying 20% of the financing …

The post Schoeller Holdings sells its boxship fleet in leaseback...

https://theloadstar.com/schoeller-holdings-sells-its-boxship-fleet-in-leaseback-deal/

SITC to use Xiamen as Fujian hub port

Notwithstanding the Covid-19 outbreak in China’s Fujian province, SITC International has signed a three-year collaboration agreement with Xiamen Port Group, pledging to use Xiamen as a regional hub port in Fujian province, taking advantage of the port’s position along China’s Belt and Road initiative.

SITC is the parent company of intra-Asia carrier SITC Container Lines.

During the signing ceremony, Xiamen Port Group general manager Cai Liqun said, “SITC has shipping resources at its disposal...

https://container-news.com/sitc-to-use-xiamen-as-fujian-hub-port/

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