Sinotrans CSC Holdings on Ordering Spree

zoom Chinese shipping and logistics conglomerate Sinotrans & CSC Holdings has signed four contracts that will involve construction of 12 new ships at local yards, the company said today. Namely, the company announced signing of contracts with the China Shipbuilding Industry Corporation (CSIC) for six 38,000 tons woodchip carriers, four 1900 TEU container ships and two 50,000-ton oil tankers. Details on the value of the vessels and the overall contract along with potential delivery dates for the newly ordered ships have not been disclosed. The announcement was made while marking the inauguration of the SinoMarine operation that will include integration of the groups shipping assets. In addition, Sinotrans informed that it has also penned a strategic cooperation agreement with China Classification Society. World Maritime News Staff