NewTimeSpace News: SITC(01308.HK) released an announcement on January 30, 2026, disclosing that its wholly-owned subsidiary, SITC Shipowning, has exercised shipbuilding options to add the construction of two container ships.

According to the announcement, on August 2, 2025, SITC Shipowning entered into a shipbuilding contract with Huanghai Shipbuilding Co., Ltd. (the Shipbuilder) and was granted options to construct a total of four ships. On October 31, 2025, SITC Shipowning had already exercised two of these options to build two ships; on January 30, the company further exercised the remaining two options to construct another two 2,700 TEU container ships under the 7th and 8th shipbuilding contracts.

The maximum total consideration for the two newly added ships is US$76.36 million, equivalent to approximately HK$599 million. Payment will be made in five cash installments based on the construction progress: 10% for each of the first four installments, and the remaining 60% upon delivery of the ships. The funds will be sourced from SITC International’s internal resources or external financing.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.