In a significant move to strengthen its presence in the Intra-Asia trade lanes, Hong Kong-listed SITC International has confirmed the exercise of options for six additional feeder container vessels. The deal, valued at approximately $137 million, underscores the carrier’s commitment to expanding its owned fleet amidst rising regional demand.
Strategic Partnership with Yangzijiang Shipbuilding
The construction contract was finalized through the group’s subsidiary, SITC Shipowner, with the Yangzijiang Shipbuilding Group. The vessels will be built by Jiangsu Yangzi Hongyuan Shipbuilding and Jiangsu New Yangzi Shipbuilding. These six units are part of an optional agreement stemming from an initial contract signed in December 2025, which originally saw the company book four vessels with the provision for six more.
Vessel Specifications and Delivery Timeline
The newly ordered ships are 1,100 TEU feeder units, a size optimized for the high-frequency port rotations typical of intra-Asian logistics. Key details of the order include:
Unit Price: Approximately $22.8 million per vessel.
Total Investment: $137 million.
Delivery Schedule: Deliveries are slated to begin in late March 2028 and continue through August 2028.
Fleet Modernization and Market Position
SITC’s strategy is heavily weighted toward asset ownership rather than a reliance on the charter market. Out of its current fleet of 121 vessels—totaling roughly 187,500 TEU—approximately 100 ships are company-owned. This latest acquisition ensures the carrier maintains operational control over its capacity as trade volumes in Asia continue to fluctuate.
This order follows a broader period of expansion for SITC. Earlier this year, the company returned to Huanghai Shipbuilding to secure two 2,700 TEU vessels, bringing its total program at that specific yard to eight ships. Currently ranked 14th in the global container line standings, SITC continues to focus on “right-sizing” its fleet to meet the specific demands of the regional market.
By securing these berths through 2028, SITC is positioning itself to handle long-term growth in the Asian economic corridor, ensuring it has the modern, efficient tonnage required to provide reliable schedules for its logistics partners and clients.
Source: Shoham.com