South Korea’s CK Line has turned to a Chinese shipyard for feeder container ship newbuildings.
The intra-Asia liner company has struck a deal with CSSC Huangpu Wenchong Shipbuilding for two 2,700-teu newbuildings to be delivered in 2026.
State-owned China State Shipbuilding Corp which controls the Chinese shipyard disclosed the signing on Wednesday.
The price of the new feeder boxships was not disclosed but one container ship expert said CK Line is paying around $37m per ship. The design of the 32.2 metres wide vessel was developed by Sdari.
Based in Seoul, CK Line rarely orders newbuildings. Online VesselsValue shows the liner company ordered a total of three newbuildings over the last 10 years: two ships of 1,900-teu in 2013 and one 1,800-teu in 2020.
All three boxships, Sky Challenge (built 2014), Sky Orion (built 2015) and Sky Rainbow (2022) were built by Hyundai Mipo Dockyard(HMD).
One source familiar with CK Line said the South Korean liner company has commissioned CSSC Huangpu Wenchong to build the 2,700-teu feeder vessels because of price and early delivery date.
He said if CK Line had ordered the newbuildings at a domestic shipyard, it would need to pay in excess of $42m per ship as the price gap between South Korean and Chinese shipyards is at least 13%.
He added that HMD is probably the only shipyard in the country that is constructing feeder container ships. But the Hyundai yard prefers MR tankers as they fetch better prices.
CK Line is the second South Korean company to have ordered newbuildings at CSSC Huangpu Wenchong this year. HMM was the other company.
Last month, the liner giant ordered four scrubber-fitted 38,000-dwt multipurpose/heavylift vessels at the Chinese shipyard. It was reported to be paying between $40m and $50m per ship.
HMM has ordered the quartet as part of the company’s fleet expansion and renewal programme.
HMM currently owns four 30,000-dwt MPPs built between 2010 and 2011. The ships are operating from the Far East to South East Asia and the Middle East.
HMM wants to expand its heavylift services to Europe, Africa and North America. The newbuildings are believed to be part of its growth plan.
Clarksons’ Shipping Intelligence Network shows CSSC Huangpu Wenchong has so far secured a total of 24 newbuildings this year including CK Line’s boxships.
