MSC Mediterranean Shipping Company is paying $330m to acquire two 14,000-teu newbuildings slated for delivery next year and originally ordered by China’s BAL Container Line.
The Hong Kong-registered, Shanghai-based liner company has novated contracts for the neopanamaxes under construction at state-owned Jiangnan Shipyard to MSC.
The vessels, Hull No H2789 and Hull No H2790, are slated for delivery in the second half of 2025.
They will be acquired by MSC-controlled Lehang Oceanway and Alundra Oceanway, according to a statement to the Hong Kong Stock Exchange by BAL’s parent company, LC Logistics, which will net a profit of $48.5m on the deal.
That is the difference between the novation of $133.3m and the book value of the vessel of $84.3m.
MSC will pay the remaining $196.7m to CSSC Group’s Jiangnan Shipyard.
More orders?
BAL ordered two scrubber-fitted newbuildings at Jiangnan in 2022 when they were reported to cost between $140m and $150m each, along with options for two more vessels.
The company is reported to be one of several liner companies planning to order new ships.
TradeWinds reported in May that BAL is considering an order for four ultra-large container ship newbuildings worth about $600m in China.
Shipbuilding sources said BAL has opted for vessels running on conventional fuel with scrubbers installed.
They believe it will be paying at least $150m each for the neopanamaxes and is scheduled to take delivery of the two firm units from the end of 2027.
BAL was incorporated in 2012 as a near-sea liner operator.
The company is a Shandong Lcang International Logistics subsidiary owned by businessman Xu Xin, also known as Tim Xu.
The group is listed on the Beijing Stock Exchange. Its business includes liner operations, supply chain management, container leasing and e-commerce.
