On April 29, SITC International Holdings Company Limited (hereinafter referred to as “SITC International”) issued an announcement on “Discloseable Transaction – Exercise of Options for the Construction of Two Container Vessels”.
The announcement disclosed that SITC International’s wholly-owned subsidiary SITC Shipowning exercised its option to build two container vessels at Huanghai Shipbuilding Co., Ltd. (hereinafter referred to as “Huanghai Shipbuilding”) on April 29, with a total price of US$57.96 million. The two vessels will be delivered on or before March 31, 2028 and May 31, 2028, respectively.
Under the announcement, the two container vessels have a deadweight tonnage of about 24,000 tons and are capable of accommodating 1,800 TEUs. The contract price for each vessel is $28.98 million and payments will be made in five stages.
According to a previous announcement, SITC International has signed an order for 4+6 1,800TEU container ships with Huanghai Shipbuilding on June 29, 2024. Since “all applicable percentage rates for transactions under the relevant shipbuilding contract are less than 5%”, the order was not announced at that time.
SITC International announced the first two optional vessels in October 2024, and the third and fourth optionalvessels on January 24, 2025. Including the two vessels that came into effect this time, all six optional vessels have come into effect. SITC International has placed orders for 10 1,800TEU container ships at Huanghai Shipbuilding, with a total of US$290 million.
According to the official website, SITC International is a leading shipping and logistics company in Asia headquartered in Hong Kong. Its business areas include container liner shipping, ship management, ship brokerage, international freight forwarding, ship agency, customs declaration and inspection, bulk cargo consolidation, supply chain management, professional logistics, warehousing, container yards, terminals, logistics automation and informatization, intelligent equipment, etc.