China’s Minsheng Financial Leasing (Minsheng FL) has ordered a series of 16,000-teu containerships against charters from a liner operator — becoming the latest outfit to jump aboard the newbuilding bandwagon for neo-panamax boxships.
Mingsheng FL confirmed it has booked six newbuildings at China State Shipbuilding Corp (CSSC)-controlled Dalian Shipbuilding Industry Co (DSIC).
It did not disclose the vessel prices but shipbuilding experts put the cost of the ships at between $120m and $125m each.
The Chinese leasing house said the order was made against charters from a reputable liner company worth in excess of $700m . But it declined to detail the charters further or identify the charterer.
Shipbuilding sources believe Geneva-based Mediterranean Shipping Co (MSC) is the charterer of Minsheng FL’s newbuildings. They added that the six neo-panamaxes inked by the Chinese leasing company were optional vessels originally held by MSC.
Neither MSC nor DSIC responded to emails requesting comment.
Official orders
In March, MSC was reported to have inked letters of intent for up to 27 neo-panamax containerships at three Chinese shipyards.
But, early last month, it officially placed orders for 13 newbuildings — seven 16,000-teu vessels at DSIC and the remaining six at Guangzhou Shipyard International (GSI). The number of options attached to the contracts was not disclosed.
China Shipbuilding Trading Co (CSTC) — the trading arm of CSSC — disclosed that the order value of MSC’s 13 newbuildings was more than $1.52bn.
MSC has opted for conventionally-fuelled boxships. But sources said the newbuildings will be LNG-ready.
DSIC and GSI are scheduled to deliver the containerships in 2023 and 2024.
If MSC is behind the charter of Minsheng FL’s six newbuildings, the total number of neo-panamax newbuildings that the liner company will be taking delivery from 2022 and 2024 will be close to 40.
Industry sources said MSC is due to receive 10 vessels of 15,000 teu and five of 12,200 teu that are under construction at Yangzijiang Shipbuilding. These vessels — to be slated for delivery in 2022 and 2023 — are chartered from Seaspan Corp.
It was also reported to have chartered Cido Shipping’s four scrubber-fitted 15,900-teu newbuildings that are under construction at Hyundai Heavy Industries.
