Feeder liner outfits from Singapore and China have been feasting on newbuilding resales, with a boxship originally ordered by Turkey’s Arkas Denizcilik and another said to be placed by UK-based Lomar Shipping changing hands.
Singapore’s Sea Consortium has added one 3,100-teu containership to its growing fleet.
While China United Lines is said to have acquired one 1,800-teu boxship from Cosco Shipping Heavy Industry Guangdong (CSHI Guangdong).
Sea Consortium, also known as X-Press Feeders, has acquired the 3,100-teu Yangtze Jiangyin — Hull No 715 — from China’s Zhoushan Changhong International Shipyard for $29.8m, according to industry players.
VesselsValue estimates the panamax to be worth $34.5m.
A source familiar with Zhoushan Changhong confirmed the sale, adding that Sea Consortium will take delivery of the vessel this month.
The 3,100-teu Yangtze Jiangyin was originally ordered by Turkey’s Arkas Denizcilik in 2016 at Zhejiang Ouhua Shipbuilding. But the contract was cancelled after the yard was declared bankrupt and ceased operations in May 2018. All shipbuilding contracts at the yard were terminated.
The shipyard was taken over by Zhoushan Changhong in August 2019 and the new owner completed work on some of the containerships that were left unfinished, which included the Yangtze Jiangyin.
Sea Consortium was not available for comment.
It is an existing client of Zhoushan Changhong and recently took delivery of the 2,700-teu X Press Mekong (built 2021) from the shipyard, which will be followed by a sistership to be named X Press Pearl at the end of this month.
Industry sources said Sea Consortium is in talks with Zhoushan Changhong about adding a further four 2,700-teu newbuildings to its fleet.
Separate deal
In a separate deal, Chinese regional operator China United Lines is said to have snapped up one 1,800-teu containership newbuilding from CSHI Guangdong for an undisclosed price.
It is also being linked to an order for two 1,930-teu containerships at Guangzhou Wenchong Shipyard, according to Alphaliner.
Industry sources said the 1,800-teu boxship is one of the nine that were originally ordered by UK-based Lomar Shipping in 2016, at a reported price of less than $22m apiece. Lomar is said to have delayed delivery of the final three vessels.
However, a source close to Lomar said the CSHI Guangdong vessel had not been sold.
The source added that the ship was involved in a complicated leasing deal but that Lomar is expected to take possession of it in March.
That would mark the end of Lomar's scheduled delivery programme in China and its 44th newbuilding from the country.
Based in Shanghai, China United Lines was established in 2005 by state-owned Unitrans Group for domestic and near-sea services. Since 2016, the company has expanded its trading route to South East Asia.
