Chinese Container Maker Orders Four Ships

China International Marine Container, the world’s largest container manufacturer, is venturing into the ship-owning business after finalizing a $330 million order for four container ships at STX Offshore and Shipbuilding’s Dalian yard in China.

The four ships, which have a capacity of 9,200 20-foot-equivalent units, are said to have cost $82.5 million each, with delivery scheduled for 2014.

The ships have been ordered in the wake of a long-term charter agreement with CMA CGM, although details of the deal were not disclosed.

Contact Peter T. Leach at pleach@joc.com. Follow him on Twitter @petertleach.

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Comments

Combined with other articles in this publication on the sale of assets, CMA would seem to have severe problems borrowing money from usual sources. But they are finding creative ways of staying afloat.