SITC International

SITC Buys Ships and Containers from Affiliate for Over $100 M

Credit: Paul Teysen/Unsplash

SITC International spends over US$100 million buying ships and containers from associate, mentions a Container News source.

SITC International Holdings

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...

https://mfame.guru/sitc-buys-ships-and-containers-from-affiliate-for-over-100-m/

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 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 profit rockets 230%, exceeding US$1 billion

SITC International, the parent of Hong Kong-based intra-Asia carrier SITC Container Lines, has seen its 2021 net profit surge by 230% year-on-year to US$1.17 billion, as liner operators achieved a second straight year of record earnings.

Revenue generated by the container shipping and logistics business was up 79% to US$2.98 billion.

The increase was a result of container shipping volumes increasing by 20% to 3.14 million TEU in 2021, while freight rates, excluding slot exchange fee income,...

https://container-news.com/sitc-profit-rockets-230-exceeding-us1-billion/

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/

SITC opens next-gen logistic hub at Qingdao

SITC International Holdings has announced the inauguration of its new logistics hub, named the SITC Global Shipping Logistics Center, in the Port of Qingdao.

SITC International will develop maritime and land-based smart logistics and digital logistics through artificial intelligence and big data, after the official establishment of the new centre on 28 November.

Relying on the new development pattern of domestic and international dual circulation mutual promotion, SITC International’s centre will...

https://container-news.com/sitc-opens-next-gen-logistic-hub-at-qingdao/