Shanghai Jiangnan Changxing Heavy Industry News

Hamburger Lloyd is selling the two widebeam containerships, RHL Constantia (IMO-No. 9495765) and RHL Calliditas (IMO-No. 9495777), to Hapag-Lloyd AG. Hamburger Lloyd will remain responsible for the technical management and crewing of the two freighters. With the purchase of the Constantia and the Calliditas, Hapag-Lloyd AG is expanding its fleet to a total of 17 units in the 4000-6000 TEU ship segment. The RHL Calliditas has already been deployed as a charter vessel for Hapag-Lloyd in the Swahili Express / Gulf India Africa service since 2019.

All nine of CMA CGM’s new gas-fueled Ultra Large Containerships will be built to Bureau Veritas (BV) class rules and under BV newbuilding supervision. The two China State Shipbuilding Corporation (CSSC) shipyards that will be building the nine 22,000 TEU containerships, Jiangnan Changxing Shipbuilding Co., Ltd. (Hudong Zhonghua) and Shanghai Jiangnan Changxing Heavy Industry Co., Ltd (SWS), signed the classification contract with BV senior management at a ceremony during Marintec 2017 in Shanghai.

International classification society Bureau Veritas will class three Ultra-Large Container Ships (ULCSs) to be built for China State Shipbuilding Corporation (CSSC) and chartered to French operator CMA CGM. The ships are due for delivery in 2015. The 16,000 teu vessels will be the largest container ships built in China to date. One will be built at the Shanghai Waigaoqiao Shipbuilding (SWS) yard, and the other two at Shanghai Jiangnan Changxing Heavy Industry, part of which came under the management of SWS this year.

On Tuesday September 10, 2013, Reederei Hamburger Lloyd (RHL) took command of the fourth 4,600 TEU Containership newbuilding (hull No. H1026A) from CSSC Shanghai, Jiangnan Changxing Heavy Industry Co., Ltd. In the course of the festive naming ceremony, the vessel was named RHL Calliditas by Bettina Pane, wife of Managing Director of RHL Hauke Pane. The container vessel RHL Calliditas will enter a time charter for account of CMA CGM, Marseille,on September 20 2013, and will trade between the Far East and West Africa, including South Africa and Sri Lanka, under the command of Captain Oleg Taran.

Waigaoqiao-controlled Shanghai Jiangnan Changxing Heavy Industry has signed a shipbuilding contract with CSSC Shipping (Hong Kong) to build three 16,000 TEU ships, the largest ever built by Chinese yards, reports China Logistics Portal. Jointly designed by Waigaoqiao Shipbuilding and CSSC-affilated Marine Design & Research Institute of China (MARIC), two of the ships will be built at Jiangnan Changxing Heavy Industry and one will be built at Waigaoqiao Shipbuilding. The order to build the giant ships comes after state-run shipbuilding group, CSSC, established a ship-owning arm in Hong Kong in 2012 in a bid to drive business. Source: China Logistics Portal

While economies across Europe have essentially bumbled, stumbled and fumbled in the wake of the global economic meltdown, Germany has remained comparitively strong. Despite the general migration of shipbuilding to the Far East, we decided to check in on the current status of this proud nation with a strong maritime heritage. German shipbuilders concentrated in 2012 on building cruise ships, megayachts, freight ferries and additional high-value, specialty ships. In total, nine German shipyards across 12 shipbuilding sites supplied 21 sea going ships with a total tonnage of 473,700.

On Thursday, May 2, 2013, Reederei Hamburger Lloyd took command of the third of four 4,600 TEU Containership Newbuildings (hull No. H1025A) from CSSC Shanghai, Jiangnan Changxing Heavy Industry Co., Ltd. Another vessel of the same type (No. H1026A) is expected to follow in August this year. In the course of the festive naming ceremony, the vessel was named RHL Constantia by Ms. Christine Wegner, lawyer and partner in the shipping law firm Cyrus Makowski. The container vessel, RHL Constantia, will enter a time charter for account of Mitsui O.S.K.

Danaos Corporation, a leading international owner of containerships, announced that on February 28, 2012, it took delivery of one more newly built containership, the CMA CGM MELISANDE, expanding its operational fleet to a total of 61 containerships aggregating 312,779 TEU. The CMA CGM MELISANDE, built at Shanghai Jiangnan Changxing Heavy Industry has a carrying capacity of 8,530 TEU, is 335 meters long, 42.8 meters wide and has a speed of 25.80 knots. The CMA CGM MELISANDE has begun its 12-year time charter at a fixed charter rate immediately upon delivery. The annualized EBITDA run-rate contribution of the vessel is expected to be approximately $12.7 million.

Danaos Corporation (NYSE: DAC), took delivery of a new containership, the CMA CGM SAMSON, expanding its operational fleet to a total of 59 containerships aggregating 291,149 TEU. The CMA CGM SAMSON, built at Shanghai Jiangnan Changxing Heavy Industry has a carrying capacity of 8,530 TEU, is 335 meters long, 42.8 meters wide and has a speed of 25.80 knots. The CMA CGM SAMSON has commenced its 12-year time charter at a fixed charter rate immediately upon delivery.

Danaos Corporation Adds One More 8,530 TEU Containership to its Fleet.   Danaos Corporation, an international owner of containerships, announced that on October 26, 2011, it took delivery of one more newly built containership, the CMA CGM BIANCA, expanding its operational fleet to a total of 58 containerships aggregating 282,619 TEU. The CMA CGM BIANCA, built at Shanghai Jiangnan Changxing Heavy Industry, has a carrying capacity of 8,530 TEU, is 335 meters long, 42.8 meters wide and has a speed of 25.80 knots. The CMA CGM BIANCA has commenced its 12-year time charter at a fixed charter rate immediately upon delivery.

Danaos Corporation (NYSE: DAC) on August 22, 2011 took delivery of a new containership, the CMA CGM TANCREDI, expanding its operational fleet to a total of 57 containerships aggregating 274,089 TEU. The CMA CGM TANCREDI, built at Shanghai Jiangnan Changxing Heavy Industry has a carrying capacity of 8,530 TEU, is 335 meters long, 42.8 meters wide and has a speed of 25.80 knots. The CMA CGM TANCREDI has commenced its 12-year time charter at a fixed charter rate immediately upon delivery. The annualized EBITDA run-rate contribution of the vessel is expected to be approximately $12.7 mil. Iraklis Prokopakis, Senior Vice President and Chief Operating Officer of Danaos commented: “We are pleased to announce the addition of one more large post-panamax containership to our fleet…

Containership owner Danaos Corporation announced that on July 8, 2011, it took delivery of one more newly built containership, the CMA CGM ATTILA, expanding its operational fleet to 56 containerships aggregating 265,559 TEU. The CMA CGM ATTILA, built at Shanghai Jiangnan Changxing Heavy Industry, has a carrying capacity of 8,530 TEU, is 335 meters long and 42.8 meters wide, and has a speed of 25.80 knots. This large post panamax vessel is the largest containership ever built in China and is the first of a series of 5 vessels due to be delivered to Danaos Corporation until the end of 2011. The CMA CGM ATTILA has commenced its 12-year time charter at a fixed charter rate immediately upon delivery.

Costamare Inc. (NYSE: CMRE) announced the conclusion of shipbuilding contracts and charter agreements for five newbuild containerships, new chartering agreements for certain containerships in the water, and the completion of financing arrangements for two previously contracted newbuild containerships. The company has ordered from Sungdong Shipbuilding & Marine Engineering Co., Ltd. of Korea five newbuild containerships, each of approximately 8,800 TEU capacity. The five newbuild containerships are expected to be delivered between the first and the third quarters of 2013. The company has entered into long-term time charter agreements with members of the Evergreen Group for the employment of each vessel immediately upon delivery.

Costamare Inc. (NYSE: CMRE), an international owner of containerships, reported unaudited financial results for the fourth quarter and for the year ended December 31, 2010. Voyage revenues of $85.7 million and $353.2 million for the three months and the year ended December 31, 2010, respectively. Adjusted EBITDA of $56.2 million and $223.6 million for the three months and the year ended December 31, 2010, respectively. Net income of $11.8 million or $0.21 per share and $81.2 million or $1.65 per share for the three months and the year ended December 31, 2010, respectively. Adjusted Net Income of $18.0 million or $0.33 per share and $73.8 million or $1.50 per share for the three months and the year ended December 31, 2010, respectively.

Costamare Inc. (NYSE: CMRE) announced that it has contracted with Sungdong Shipbuilding & Marine Engineering Co., Ltd. for the construction and purchase of two newbuild containerships, each of about 9,000 TEU capacity. The two newbuildings are expected to be delivered by the end of 2012. The Company has entered into time charter agreements with MSC for the employment of each vessel immediately upon delivery, for duration of ten years. Both the contract price and the daily charter rate are similar to those recently agreed regarding the three 9,000 TEU vessels contracted with China Shipbuilding Trading Company Limited and Shanghai Jiangnan Changxing Heavy Industry Co., Ltd. and chartered to MSC for a period of 10 years.

Costamare Inc. (NYSE: CMRE) announced that it has contracted with Sungdong Shipbuilding & Marine Engineering Co., Ltd. for the construction and purchase of two newbuild containerships, each of about 9,000 TEU capacity. The two newbuildings are expected to be delivered by the end of 2012. The Company has entered into time charter agreements with MSC for the employment of each vessel immediately upon delivery, for duration of ten years. Both the contract price and the daily charter rate are similar to those recently agreed regarding the three 9,000 TEU vessels contracted with China Shipbuilding Trading Company Limited and Shanghai Jiangnan Changxing Heavy Industry Co., Ltd. and chartered to MSC for a period of 10 years.

Danaos Corporation (NYSE: DAC) extended its shipbuilding contracts with China Shipbuilding Trading Company, Limited to include one more 8,530 TEU vessel, bringing the total number to five vessels. All five Post Panamax containerships will be built by the Shanghai Jiangnan Changxing Heavy Industry Company Limited and are expected to be delivered to Danaos between August 2010 and February 2011. Danaos has also arranged for a large international liner company to charter all these vessels for 12 years each at accretive rates. For the first full year of operation, this five vessel block addition to Danaos' fleet of containerships is expected to contribute approximately $65 million of EBITDA.

Danaos Corporation agreed with China Shipbuilding Trading Company Limited the upgrading of its earlier order for four 6,800 TEU containerships to four 8,400 TEU vessels and signed the amendments to the relevant shipbuilding contracts. These vessels will be built by the Shanghai Jiangnan Changxing Heavy Industry Company Limited and are expected to be delivered to Danaos during 2010. The total capital expenditure commitment for this project is in the region of $500 million and is expected be financed by existing credit facilities and own funds according to the work in progress schedule under the specific terms of the shipbuilding contracts.

Danaos Corporation recently announced that it has signed shipbuilding contracts for four 6,800 TEU vessels with China Shipbuilding Trading Company, Limited. The vessels will be built by the Shanghai Jiangnan Changxing Heavy Industry Company Limited and they are expected to be delivered to Danaos during the second and third quarter of 2010. This new order increases Danaos’ total order-book to 19 containerships with a total carrying capacity of 102,324 TEU or 73% of its current fleet. Also Danaos Corporation announced on March 8th that it has signed an agreement with CMA-CGM to time charter three containerships for a period of 36 months and at a net charter rate of $ 22,950 per day. The charters will commence as of the date when the current employment of these vessels ends in 2007.