On August 3, SITC International Holdings Company Limited (hereinafter referred to as “SITC International”) announced a “Discloseable Transaction Related to Shipbuilding Contract for the Construction of Container Vessels.”
The announcement disclosed that SITC International’s wholly-owned subsidiary, Haifeng Shipowner, entered into a shipbuilding contract with Huanghai Shipbuilding Co., Ltd. (hereinafter referred to as “Huanghai Shipbuilding”) on August 2, 2025, for four container vessels. The maximum consideration for each vessel is US$38.18 million, bringing the total consideration to a maximum of US$153 million.
According to the contract, the four vessels are scheduled for delivery on or before December 31, 2027, the second on or before March 31, 2028, the third on or before May 31, 2028 and the fourth on or before July 31, 2028. Payment will be made in five installments, with the initial payment representing 10% of the purchase price, and the remaining balance to be paid based on the progress of the vessel construction. SITC International plans to finance the contract through a combination of internal resources and external financing.
SITC International stated that the newbuildings will enable the Group to expand its fleet of owned container vessels to meet the growth in demand for the Group’s operations.
As previously reported, in late April, SITC International placed an order with Huanghai Shipbuilding for two 1,800 TEU container ships, with the two vessels scheduled for delivery by March 31, 2028, and May 31, 2028, respectively. With this, all 10 orders for 1,800 TEU container vessels placed by the company at Huanghai Shipbuilding have been finalized, with the total order value reaching US$290 million.
According to its 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 clearance and inspection, LCL (Least Consolidation) cargo, supply chain management, professional logistics, warehousing, container yards, terminals, logistics automation and information technology, and intelligent equipment.
Huanghai Shipbuilding was founded in 1944. In recent years, the company has focused on structural adjustment and product transformation, forming a development path with Huanghai characteristics in the fields of ro-pax vessel and passenger-cargo ferries, multi-purpose heavy lift vessels, and large ocean-going fishing vessels.