Sitc News

VesselsValue's head cargo analyst, Olivia Watkins, has compiled a list of the world's top ship owning nations ranked by total fleet value.ChinaChina has moved up from second in January to firs place this time, owning a total of $191 billion in assets.China owns the largest number of containerships and, consequently, the recent surge in rates and values has moved them up the ranks to top spot in terms of fleet value. The increase in rates has also prompted an ordering spree across the container sector, as owners’ confidence in the market exploded.

China Railway Container Transport (CRCT), a provider of international and domestic railway container transportation services, has signed strategic cooperation agreement with SITC International Holdings at Beijing.According to a press release from SITC, a shipping logistics company headquartered in Hong Kong, both parties expressed the desire of win-win cooperation, and exchanged ideas of promoting railway containers for overseas and intermodal rail-sea transportation business.Han boling, General Manager of CRCT, and  Yang Xianxiang, Vice Chairman of the Board of Directors of SITC, participated in the agreement signing ceremony, together with the delegates of both firms…

When two of the world’s top trading partners get entangled in a stand-off, where the outbreak of a trade war could become the extended tool of intense negotiations, BIMCO says we’d better prepare for what may come while hoping that it will never take place.The U.S. is China’s largest trading partner measured by value – and China is the largest one-country trading partner that the U.S. has.“The global shipping industry naturally gets concerned when two nations of huge importance to most shipping sectors get in the ring to fight a trade war – gloves off…

Oslo based ship owner MPC Container Ships ASA said it has reached a deal to acquire SITC Makassar, a 2,496 TEU vessel built in 2006 in Germany.   The vessel, to be renamed AS Patricia, will be acquired for $9.9 million, including initial working capital.    The vessel will be taken over by the company’s 50/50 joint venture during April 2018.   “Despite observable increases in secondhand vessel prices, . . . the current price level still offers an attractive entry point for further acquisitions,” the company said in its 2017 Annual Report. “As such, the Group intends to further grow its fleet through accretive acquisitions in 2018.”

SITC Shipowning, a wholly-owned subsidiary of SITC International Holdings Co, has exercised the options for the construction of two container vessels, said a company release. SITC Shipowning also entered into the New Shipbuilding Contracts with the Builder for the construction of two additional container vessels. The four vessels to be constructed under the Option Contracts and the New Shipbuilding Contracts are 1,011 TEU class gearless container vessels. The aggregated costs for the construction of the four container vessels under the Options and the New Shipping Contracts is US$68 million. SITC Shipowning entered into the Shipbuilding Contracts with the Builder in May 2017 for the construction of two container vessels for an aggregate consideration of US$34 million.

The Manila International Container Terminal (MICT), International Container Terminal Services, Inc.’s (ICTSI) flagship operation and the Philippines’ largest container terminal, capped 2016 with a milestone as it reached its first year-to-date two millionth TEU move last December. The MICT has an annual capacity of 2.75 million twenty-foot equivalent units (TEU). The two millionth TEU container was offloaded from SITC Osaka, which is operated by Chinese megaliner SITC Container Lines. The container vessel originated from Ningbo in China. SITC is one of MICT’s longtime clients with regular vessel calls to the Port of Manila. MICT reached its first one million-TEU move back in December 2002. A ceremony held to commemorate the milestone was led by Christian R.

The Subic Bay Metropolitan Authority (SBMA) said that the volume of container cargo handled the Port of Subic between January and August nearly doubled year on year. SBMA Chairman Roberto V. Garcia said container volume at the Port of Subic has already reached 83,000 twenty-foot equivalent units, up 93 percent of 43,000 TEUs for the same period in 2014. Subic’s free port can help divert marine traffic from the congestion in Manila because it is set up as “one-stop shop”, he said. He said efforts by the agency and partner locators to ensure ease in cargo processing at the Port of Subic, as well as other marketing initiatives, contributed to the rise in container volume here.

SITC International signed a strategic cooperation agreement with Qingdao Port International Co., Ltd. in Qingdao yesterday in order to further strengthen the strategic cooperation in the port and logistics market. Mr. Zheng Minghui, Chairman of Qingdao Port Group, Mr. Cheng Xinnong, Vice Chairman and president of Qingdao Port Group, Mr. Jiao Guangjun, president of Qingdao Port International, Ms. Jiang Chunfeng, the vice president of Qingdao Port International ,Mr. Chen Fuxiang,  Board Secretary of Qingdao Port International, Mr. Yang Shaopeng, Chairman of SITC, Mr. Xue Peng, Director and  Board Secretary of SITC, Mr. Xue Mingyuan, Director of SITC and the president of SITC Shipping Group ,Mr. Lai Zhiyong, Director of SITC and the president of SITC Logistics Group, attend the event.

SITC Container Lines (Thailand) Co.,Ltd was awarded as " Best Container Liner 2014 " by DITP (Department of Int'l Trade Promotion) and TNSC (Thai National Shipper's Council ) in  Bangkok, Thailand on 24th/Sept,2014. This yearly- based appraisal activity was held by DITP/TNSC with questionnaire to gather information via mail, e-mail, website and tele-interview in core services and support services of Liners to customers who are exporters in Thailand on 11 criteria including-- Schedule Frequency, Transit Time, Empty Container Condition, On time delivery, Sale & Customer Service, Booking Quick Response, IT Service, Customer Responsiveness, Accurate Documentation, Problem Notices in Advance and Reasonable Charge.

The Naming Ceremony of M/V “SITC SHANDONG” was held yesterday in Keelung Factory of CSBC Corporation, Taiwan, by SITC International Holdings Co., Ltd. (SITC International) and CSBC Corporation, Taiwan.(CSBC). Mr. Yang Shaopeng, Chairman of SITC International, and Mr. Lai Sun-Quae, Chairman of CSBC attended the ceremony. M/V “SITC SHANDONG” is the first vessel of 1800TEU series container ships. This series ships built by CSBC is the updated BANGKOKMAX type, fully meeting the current trend of energy conservation and emissions reduction. They are all designed with advanced energy-saving sea sword bow together with other energy-saving devices, which can highly-efficiency reduce fuel consumption as well as improve speed.

Vessel sales for June 2014 (as of July 1) as prepared by Shipping Intelligence, Inc., New York. 7/22/14 - NANWA MARU NO.

Cargo growth on intra-Asia routes is attracting deep-sea carriers due to the availability of cheap charter vessels and economies of scale between China and SE Asia, but regional players also know how to form defensive alliances, reports Drewry Maritime Research in its latest 'Container Insight Weekly'. Financially troubled deep-sea ocean carriers are increasingly seeking salvation in the intra-Asia market due to higher than usual cargo growth and the availability of cheap vessel charter rates. Seldom does a month pass without the announcement of at least one new regional service, some of which now deploy vessels over 4,000 teu. Maersk-owned MCC Transport/NYK’s weekly Japan-China-Thailand schedule calling at Tokyo, Yokohama, Nagoya, Kobe, Hong Kong, Shekou, Laem Chabang, Xiamen and Tokyo.

Taiwan's CSBC Corp. inked a deal to build two 1,800 teu containerships for Iseaco Holdings of Singapore. The ships were reportedly ordered at a price of $25 million each.    Delivery is expectedfor Iseaco’s YL Singapore Shipping and YL Colombo Shipping during the first quarter of 2016.   Current shipbuilding projects underway at CSBC are twelve 1,800 teu vessels for SITC International, four 8,000 teu vessels for Evergreen and two 4,600 teu vessels for Yang Ming.

Ordering this week has been very much focussed on the dry sector with additional orders seen in the container market, large size LNG sector and small tankers, say Charkson Hellas in their weekly S&P Weekly Bulletin. In dry bulk carriers: starting with the large sizes, it was reported that Oldendorff Carriers have declared their first option for an additional 207k DWT Newcastlemax at HHI with delivery lined up for March 2015. This takes their total order up to five firm Vessels, with one option still outstanding. Notable levels of ordering coming to light this week in the Capesize newbuilding market in Japan, with both JMU and Imabari each taking orders for three firm 180,000 DWT Capes from SwissMarine.

Today, NOL Group opened its new terminal at the Port of Qingdao with the arrival of the APL Dubai. Originally expected to open in the second half of 2011, the joint venture container terminal opened for business well ahead of schedule. NOL, together with SITC International Holdings Company Limited, a PRC-based shipping logistics company, formed a partnership with Qingdao Qianwan United Container Terminal Co., Ltd. (QQCTU) in May 2011 to operate the terminal. NOL said the terminal will primarily serve vessels operated by APL and SITC. The inaugural call at the terminal was made today by the APL Dubai, a 6,574-TEU vessel on APL’s West Asia Express service.

NOL Group today announced a joint venture to operate a two-berth container terminal at the Port of Qingdao. The terminal, expected to open in the second half of 2011, will be NOL’s first in mainland China. “Today we’ve taken a significant step to strengthen our presence in China and participate fully in its unprecedented growth,” said Kenneth Glenn, APL President for North Asia. Container shipping and logistics giant NOL said, together with SITC International Holdings Company Limited…