Eastern Pacific books three more 7,000TEU ships at New Times
Eastern Pacific Shipping has returned to New Times Shipbuilding for three more 7,000TEU container ships. The Singapore-based outfit, owned by Idan Ofer, commissioned the additional vessels after an initial order for four ships in the privately-owned Chinese shipyard in June.
It is believed that the vessels were ordered on the back of a long-term charter to Singapore-based X-Press Feeders.
Several liner operators and tonnage providers have been keen on 7,000TEU ships, which are commonly deployed to mid-haul lanes such as Far East-Persian Gulf, Far East-South Asia and Far East-Australia/New Zealand.
These lanes have been neglected by mainline operators, due to much higher freight rates on the longer-haul Asia-Europe and Trans-Pacific routes. Taiwanese liner operator TS Lines, Singapore-based feeder operator X-Press Feeders, Canadian tonnage provider Seaspan Corporation and Singapore-based tonnage providers Eastern Pacific Shipping and Asiatic Lloyd Shipping have all ordered 7,000TEU ships from New Times Shipbuilding, Shanghai Waigaoqiao Shipbuilding and Dalian Shipbuilding Industry Company this year.