Intra-Asia feeder specialist TS Lines has ordered two 4,300-teu container ship newbuildings at CSSC Huangpu Wenchong Shipbuilding.
A source close to the deal confirmed TS Lines’ order and said the contract did not include option vessels.
Although the price for the conventionally fuelled, midsize container ships has yet to emerge in the market, shipbuilding brokers suggested that they will cost about $60m each.
Huangpu Wenchong is scheduled to deliver the duo in 2027.
News of TS Lines ordering the newbuildings was first published by TradeWinds earlier this month.
TS Lines has now ordered six container ships this year.
In June, the Asian liner company contracted Shanghai Waigaoqiao Shipbuilding to build two methanol-ready 14,000-teu and two 7,000-teu newbuildings, with options for two additional vessels of each ship type.
The Shanghai-based shipyard is due to deliver the larger boxships in 2028 and the 7,000-teu container ships in 2027.
TS Lines is believed to be paying about $150m each for the 14,000-teu vessels and about $90m each for the neo-panamaxes. All will be fitted with scrubbers.
TS Lines, established in 2001 by chief executive TS Chen, owns 32 of the 43 vessels it controls. It is the 21st largest liner company, according to Alphaliner.
The company is making a third attempt at an IPO on the Hong Kong Stock Exchange.
Its earlier bids in 2022 and 2023 were thwarted by market corrections.
The company’s revenue for 2023 was $874.6m, down from $2.44bn in 2022. It registered a net profit of $20.4m, down from $1.08bn.
JP Morgan and China Merchants Securities have been appointed as listing sponsors for this latest attempt.
TS Lines did not disclose the amount of capital it is hoping to raise from the listing, but it said part of the funds will be used to finance the 7,000-teu newbuildings and for vessel leasing.
The regional liner company re-entered the transpacific trade in June as a partner with Dubai-based SeaLead Shipping on the Asia west coast service connecting China and South Korea with Long Beach, California.
TS Lines will add four ships to the service, beginning with the 2,954-teu TS Tacoma and TS Melbourne (both built 2023).
