SITC Container Lines

SITC launches service between China, Incheon and Vietnam

SITC Container Lines has launched a China-Vietnam service (CVS), which connects the Incheon port in South Korea to the two countries.

The CVS service was launched at the encouragement of the Incheon Port Authority (IPA), which has been working to connect a bigger number of routes to the South Korean port, which is marketed as a gateway into Seoul.

The service began on 24 June, when the 2,524TEU SITC Davao departed Incheon to sail under the following port rotation Incheon, Dalian, Tianjin,...

https://container-news.com/sitc-launches-service-between-china-incheon-and-vietnam/

High rates push SITC Contaner Lines more vessel orders

SITC Container Lines’ affiliate, SITC Shipowning extended its newbuilding bonanza, announcing a new order from Yangzijiang Shipbuilding for eight more ships, as the firming freight market seems to have encouraged liner operators and tonnage providers to order newbuildings, pushing the global orderbook to almost 20% of the active fleet.

Contracted on 2 June, the orders for four 2,600TEU and four 1,800TEU ships, come less than a week after SITC Shipowning ordered up to ten 1,023TEU vessels at...

https://container-news.com/high-rates-push-sitc-contaner-lines-more-vessel-orders/

SITC orders up to ten feeder ships at Dae Sun

SITC Container Lines’ ship-owning affiliate SITC Shipowning has commissioned up to ten 1,023TEU feeder ships from South Korean shipyard Dae Sun Shipbuilding & Engineering.

Its holding group, SITC International, said in a Hong Kong Stock Exchange filing on 27 May that the order comprises eight firm vessels that are slated for delivery within 2023. SITC Shipowning has options for two more ships; these must be exercised by 18 June.

Each newbuilding is priced at US$19.2 million, translating into a...

https://container-news.com/sitc-orders-up-to-ten-feeder-ships-at-dae-sun/

Cosmoship takes up options for 1,500TEU pair

Greek tonnage provider Cosmoship Management has exercised options for another pair of 1,500TEU ships at CSSC Huangpu Wenchong Shipbuilding.

The options are tied to an initial order inked by the Nikos Savvas-controlled outfit on 25 January. That order was made just a month after Cosmoship took delivery of a similar ship, FSL Colombo, which was one of four sister vessels commissioned in December 2017.

Exercising the options means that Cosmoship has ordered eight 1,500TEU ships from Huangpu Wenchong.

https://container-news.com/cosmoship-takes-up-options-for-1500teu-pair/

Wenzhou opens link to the Philippines

China’s Wenzhou continues to build overseas container shipping links, with SITC Container Lines launching a service connecting the port to the Philippines.

On 1 May, the 2,700TEU SITC Port Klang departed Wenzhou with containers bound for Subic, Manila North, Cebu and Makassar in the Philippines. This is Wenzhou’s seventh overseas route so far and is part of the Belt and Road initiative.

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https://container-news.com/wenzhou-opens-link-to-the-philippines/

CNC Line expands Vietnam links

CMA CGM’s intra-Asia shipping unit Cheng Lie Navigation (CNC Line) is developing its Far East-Vietnam connections with the inclusion of a direct connection between Central Vietnam, Japan, South Korea, Northern China and Hong Kong.

The Taiwan based CNC Line is extending its CHX service, which currently connects South China and Central Vietnam, with new calls at Vietnam’s Chu Lai port.

Container volumes between East Asia and South East Asia, especially Vietnam, have been growing because US-China...

https://container-news.com/cnc-line-expands-vietnam-links/

Hainan SEZ lures liner operators

The new status of China’s Hainan island, which is situated off Guangxi, in southwest China and east of Vietnam, as a special economic zone is attracting liner operators such as SITC Container Lines and COSCO.

Chinese intra-Asia carrier SITC is tapping into the tax concessions offered to ships registered in Hainan. On 19 September 2020, the company registered a branch office on the island, becoming the first shipping company to do so.

Speaking at the China Green Companies Summit on 28 September,...

https://container-news.com/hainan-sez-lures-liner-operators/

Interasia buys newbuilding resale pair

Japanese intra-Asia carrier Interasia Lines has purchased a pair of feeder ship newbuildings from a Chinese ship builder.

Purchased for US$34.5 million in August, the 1,730TEU vessels were originally ordered by German tonnage provider Reederei Nord at Zhejiang Ouhua Shipbuilding in 2014. When Zhejiang Ouhua went bankrupt in 2018, Zhoushan Changhong Shipbuilding took over construction of the vessels and the defunct shipyard’s remaining assets.

The ships were delivered to Interasia this month and...

https://container-news.com/interasia-buys-newbuilding-resale-pair/

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