THE Mediterranean Shipping Co (MSC) has acquired two containerships under construction in China from BAL Container Line, reports Singapore's Splash 247.
BAL's parent company, LC Logistics, said in a Hong Kong Stock Exchange filing that msc had been novated contracts for a pair of 14,000-TEU ships at Jiangnan Shipyard in a deal worth more than US$330 million in total.
Hong Kong-registered BAL ordered the duo in June 2022 with first instalments of US$84.3 million already paid. The company will get $133.3 million from MSC, banking around $49 million in the process, while the Swiss-based carrier will take over the remaining $196.7 million in shipbuilding costs and also compensate BAL for $3.3 million worth of equipment orders.
BAL will continue to oversee the construction of the vessels, with expected delivery in 2025. The company, which recently resumed its service between China and Mexico, has up to four more optional 14,000 TEU units at Jiangnan, according to shipbuilding sources.
Meanwhile, Gianluigi Aponte-led MSC has been adding capacity to cement itself at to top of liner rankings. Analysts at Alphaliner forecast that MSC's market share will be equal to Maersk and Hapag-Lloyd's combined come the launch of the Gemini Cooperation early next year.
SeaNews Turkey
BAL's parent company, LC Logistics, said in a Hong Kong Stock Exchange filing that msc had been novated contracts for a pair of 14,000-TEU ships at Jiangnan Shipyard in a deal worth more than US$330 million in total.
Hong Kong-registered BAL ordered the duo in June 2022 with first instalments of US$84.3 million already paid. The company will get $133.3 million from MSC, banking around $49 million in the process, while the Swiss-based carrier will take over the remaining $196.7 million in shipbuilding costs and also compensate BAL for $3.3 million worth of equipment orders.
BAL will continue to oversee the construction of the vessels, with expected delivery in 2025. The company, which recently resumed its service between China and Mexico, has up to four more optional 14,000 TEU units at Jiangnan, according to shipbuilding sources.
Meanwhile, Gianluigi Aponte-led MSC has been adding capacity to cement itself at to top of liner rankings. Analysts at Alphaliner forecast that MSC's market share will be equal to Maersk and Hapag-Lloyd's combined come the launch of the Gemini Cooperation early next year.
SeaNews Turkey
