SITC International Holdings

SITC realised nearly US$2 billion profit in 2022

SITC International Holdings, the holding company of Hong Kong-based intra-Asia carrier SITC Container Lines, has announced that its net profit went up by 67% on-year in 2022, to US$1.9 billion.

The Hong Kong-listed group said that its turnover was up 37% year-on-year, to US$4.1 billion, as it carried 4% more containers, amounting to 3.26 million TEUs in 2022. Up till mid-2022, freight rates were at historically high levels, before correcting to pre-Covid-19 lows. SITC stated that average freight...

https://container-news.com/sitc-realised-nearly-us2-billion-profit-in-2022/

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 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/

SITC back at Yangzijiang for six 2,600TEU ships

In just a month, Chinese intra-Asia carrier group SITC International Holdings has ordered 13 newbuildings from compatriot Yangzijiang Shipbuilding.

After ordering seven newbuildings on 30 November 2020, SITC said on 21 December that it has ordered another six ships, each with 2,600TEU capacity, and for a total price of US$162 million.

Deliveries of the ships are scheduled from September 2022 to January 2023. This order comes with options for four more ships. Construction will be undertaken by two...

https://container-news.com/sitc-back-at-yangzijiang-for-six-2600teu-ships/

Tianjin and SITC seal deal with new service

Chinese intra-Asia carrier SITC Container Lines has launched a service connecting China’s Tianjin port with Vietnam and Malaysia.

The Hong Kong-based shipping and logistics firm has agreed to work with Tianjin Port Development Holdings, which was seeking a link with Southeast Asia as part of the Belt and Road initiative.

SITC will deploy four 1,800TEU vessels to the service, which will see the ships setting out from Tianjin and calling at Ho Chi Minh and Quy Nhon in Vietnam and Bintulu in...

https://container-news.com/tianjin-and-sitc-seal-deal-with-new-service/

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