China Shipping Container Lines (CSCL) is poised to spend a further $1.65bn on containership newbuildings.
The liner-shipping arm of China Shipping Group (CSG) — which recently splashed out $934m on 13,500-teu newbuildings at Shanghai Jiangnan Changxing Shipbuilding, which is controlled by Hudong-Zhonghua Shipbuilding-controlled — is said to be close to concluding talks for up to 11 20,000-teu vessels.
Newbuilding players say China State Shipbuilding Corp (CSSC) yards Hudong-Zhonghua and Shanghai Waigqaoqiao Shipbuilding (SWS), as well as China Shipbuilding Industry Co (CSIC)’s Dalian Shipbuilding Industry Co (DSIC), are vying for the contract.
