Against the backdrop of a tight newbuilding fleet, it was recently announced that Mediterranean Shipping Company (MSC) has purchased two BAL Container Line newbuildings under construction in Chinese shipyards.
LC Logistics, the parent company of BAL Container Line, said in a filing with the Hong Kong Stock Exchange that MSC has been awarded a contract for the renewal of two 14,000 TEU containerships at Jiangnan Shipyard, with a total value of more than $330 million.
The Hong Kong-registered BAL ordered the 2 vessels in June 2022. for its part, BAL will continue to oversee the construction of the vessels, which are expected to be delivered in 2025.
Meanwhile, MSC has been adding capacity to consolidate its lead in the liner rankings, with analysts at Alphaliner predicting that with the launch of the Gemini partnership early next year, MSC's market share will be equal to that of Maersk and Hapag-Lloyd combined.
https://www.cnss.com.cn/html/sdbd/20240709/354023.html
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