SITC

SITC Linked to Orders for Eight Boxships At Yangzijiang

Chinese boxship operator SITC has been linked to orders for eight boxships at compatriot shipyard Yangzijiang Shipbuilding, reports Splash247.

About Announcement

Yangzijiang recently announced new ship orders for 31 ships including four 2,600 teu boxships and four 1,800 teu boxships.

Latest Orders

Multiple shipbroking houses including Clarksons, Intermodal and Lorentzen & Stemoco have identified SITC as the owner behind the order. The latest orders are options declared by SITC under two newbuilding...

https://mfame.guru/sitc-linked-to-orders-for-eight-boxships-at-yangzijiang/

Major SITC feeder ship order bouys Yangzijiang

Intra-Asia carrier group SITC International Holdings has placed firm orders for six 1,800TEU feeder vessels from two subsidiary yards of China’s Yangzijiang Shipbuilding. The contract carries options for six more ships.

The company announced on 31 August that its subsidiary, SITC Shipowning had posted the US$126 million six-ship order.

Construction of the newbuildings will be split between Jiangsu New Yangzi Shipbuilding and Jiangsu Yangzijiang Shipbuilding.

SITC is the second customer to order...

https://container-news.com/major-sitc-feeder-ship-order-bouys-yangzijiang/

Joining an industry trend, SITC reports H1 profits up on lower fuel costs

SITC International, the holding company of Chinese intra-Asia carrier SITC Container Lines, said that net profit for the first half of 2020 was up 10% year-on-year, to US$119.64 million, as reduced bunker costs mitigated a drop in cargo volumes and freight revenue.

SITC said that its H1 revenue generated by its container shipping and logistics business decreased by approximately 0.2% from approximately US$732 million.

The group’s container shipping and supporting logistics business generated...

https://container-news.com/joining-an-industry-trend-sitc-reports-h1-profits-up-on-lower-fuel-costs/

SITC eyes intra-Asia growth with fleet expansion

Hong Kong-based intra-Asia carrier SITC Container Lines has expanded its fleet as it targets the lucrative intra-Asia market which it says will grow.

While long-haul container shipping has been affected by the Covid-19 pandemic in Europe, intra-Asia volumes have been holding up, said the carrier.

An SITC official told Container News that the company is optimistic about the intra-Asia market, with growing volumes out of Vietnam and the Belt and Road initiative resulting in increasing cargo flows....

https://container-news.com/sitc-eyes-intra-asia-growth-with-fleet-expansion/

Wenzhou link to major Indonesian ports started by SITC

Chinese intra-Asia carrier SITC Container Lines has launched a Wenzhou-Indonesia connection that has been described as the first direct service between China’s Zhejiang province and major Indonesian ports.

The service began on 21 July 2020, with SITC’s chartered 2,700TEU vessel, Cape Magnus, departing Zhuangyuan’ao, a subport of Wenzhou in Zhejiang province, after loading close to 100TEU.

The service will call at Indonesia’s four busiest container ports, Tanjung Priok (Jakarta), Tanjung Perak,...

https://container-news.com/wenzhou-link-to-major-indonesian-ports-started-by-sitc/

More intra-Asia loops with Guangzhou port

In the space of just 10 days, Guangzhou has been included in four intra-Asia container service routes, in a sign of growing volumes handled by the southern Chinese port.

Guangzhou Port Group has begun consolidating ports in Guangdong province as part of the government’s wider plan to create a “Greater Bay Area” (GBA). The latter strategy envisions an economic hub encompassing Hong Kong, Macau and 11 urban southern Chinese cities. The increased trade flows between the GBA and ASEAN have resulted...

https://container-news.com/more-intra-asia-loops-with-guangzhou-port/

SITC posts strong annual results

SITC International Holdings published its annual financial results for the year ended 31 December 2018. The board of directors of the company announced the consolidated results, together with the comparative figures, which have been prepared in accordance with Hong Kong Financial Reporting Standards.

SITC has posted strong results with increased revenue, profit and basic earnings. 

Financial Highlights

  • Revenue for the year ended 31 December 2018 was approximately US$1,449.1 million, increased by...

https://container-news.com/sitc-posts-strong-annual-results/

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