The shipbuilding contract has been signed by Cosco Shipping’s subsidiary, Cosco Shipping Container Lines with the CSSC yard.
As with an order 10 days earlier to build six vessels of the same type for Seaspan Corp the deal is being settled in Chinese currency RMB. Traditionally most shipping contracts including those for newbuildings have been settled in US dollars.
“The use of RMB settlement reflects the currency’s steady expansion in global shipping market, and will help reduce exchange risks and enhance the profitability of Chinese shipbuilders, as well as raise their market competitiveness,” commented Hudong-Zhonghua.
Developed by Hudong-Zhonghua, the 13,600 teu container ship measures 336 metres in length and 51 metres in width, having a maximum capacity of 14,096 teu, can also provide sockets for 2,000 reefer containers.
The first of the vessels for Cosco will start construction in November 2025 and all the vessels are expected to be delivered in 2027.
Hudong-Zhonghua Shipbuilding has signed orders for four batches of 21 large container ships this year.
