Mediterranean Shipping Co (MSC) is said to have approached shipyards in China for a series of neo-panamax containerships, amid doubts over five ships in its chartered-in orderbook.
Shipbuilding sources said the Diego Aponte-led company is looking to replace the 12,200-teu newbuildings it fixed from containership tonnage supplier SinOceanic Shipping as it worries they may not get delivered.
“MSC started approaching Chinese shipbuilders a few months ago,”one of the sources said. “These containerships are meant to replace the ones that it bareboat chartered from SinOceanic a few years ago.”
Purchasing power
Shipbuilding sources added that Zhoushan-based Jinhai Intelligent Manufacturing, formerly known as Jinhai Heavy Industry, is cash-strapped and, as a result, the yard is facing some difficulty in purchasing main components for SinOceanic's order there.
“Jinhai is still in operation but works have slowed down there,” an industry source said. “There are talks in the market that MSC will not be taking delivery of the containerships as Jinhai did not complete building them on schedule.”
The industry source added that the first of seven 12,200-teu vessels chartered from SinOceanic will be ready for delivery next month.
“The containership to be named MSC Bianca finished sea trials successfully,” the industry source said. “The second vessel, to be called MSC Aino, is 80% completed and we foresee the ship will be delivered. However, Jinhai may have difficulty in delivering the remaining five vessels as they are still in dry dock.”
Shipbuilding sources added that Jinhai and SinOceanic have approached compatriot shipyards to assist in finishing construction of the 12,200-teu boxships, but the effort fell through over disagreement on the project's price tag.
Plans 'unchanged'
However, SinOceanic chairman Jan Hakon Pettersen said the newbuilding programme for seven ships and plans to charter them to MSC remain unchanged.
“Two are almost ready for delivery in one to three months,” he told TradeWinds. “The five remaining will also be delivered to MSC in 2020.”
Another source said Geneva-based MSC continues to seek a solution with Jinhai.
Jinhai officials declined to comment on the yard’s shipbuilding activities, and MSC said it does not comment on market speculation.
According to Clarksons’ Shipping Intelligence Network database, Jinhai is scheduled to deliver five of SinOceanic's newbuildings this year and the other two in 2020.
The shipyard’s orderbook also consists of two VLCCs placed by HNA Group and one dredger from Shenzhen DaChan. They are due for delivery this year and 2020.
Ian Lewis contributed to this article
