Sinotrans Shipping has ordered four new energy-saving containerships of 1,900 TEUs in capacity each at CSSC Huangpu Wenchong Shipbuilding Company for $98.2 million.

The four newbuildings, each costing $24.55 million, are scheduled to be delivered from the shipyard in May, June, September and November 2017, respectively.

A 10% deposit has been placed by Sinotrans with the balance payable in four instalments.

The construction cost of new vessels is relatively low and the company has an advantage of sufficient capital resources, said Sinotrans

The construction of such energy-saving containerships will enable the company to optimise the composition of its fleet of containerships, it added.

It can also expand the capacity of its self-owned fleet and reduce the ship chartering cost.