- Full 10-Vessel Deal with Huanghai Now in Effect.
- SITC Exercises Final Options in $290M Ship Order.
- Two More 1,800 TEU Ships Ordered by SITC
Hong Kong-headquartered SITC International Holdings, via its wholly owned subsidiary SITC Shipowning, has exercised its option to purchase two more 1,800 TEU container ships from China’s Huanghai Shipbuilding. The action completes the company’s complete set of six optional vessels, initially announced in June 2024, reports Baird Maritime.
Deal Value and Delivery Timeline
The combined cost of the two new confirmed ships is US$57.96 million. They are due for delivery by March 31, 2028, and May 31, 2028, respectively. Each ship will be paid for in five instalments. Both of the ships will have a deadweight of about 24,000 and a container capacity of 1,800 TEUS.
Background on the Original Agreement
SITC International first placed firm orders for four vessels, obtaining options for six more from Huanghai Shipbuilding on 29 June 2024. The first two of the M/Y optional vessels were revealed in October 2024, and the third and fourth M/Y in January 2025. With this latest announcement, all six of the optional vessels are now confirmed.
Total Fleet Growth Reaches Ten Vessels
SITC has an aggregate of ten 1,800 TEU container vessels ordered with Huanghai Shipbuilding at a total transaction value of about US$290 million.
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Source: Baird Maritime
