China Shipping Container Lines (CSCL) has ordered eight new container vessels with a capacity of each 13,500-teu from Shanghai Jiangnan Changxing Shipbuilding for a combined total contractual value of us dollar 934.4 million.

The vessels are due for delivery between April and the end of December 2018, and were ordered via CSCL’s Hong Kong subsidiary CSCL HK. China Shipping Container Lines said the subsidiary would pay the consideration with self-owned capital and bank loans. The deal would raise its debt asset ratio, but help further optimize fleet structure, transport capacity and raise comprehensive strength.

“The group positively responds to the development trend for large-scale container vessels in the shipping market, adheres to low-carbon environmental protection initiatives and is committed to adjusting and optimizing the structure of its fleet,” stated CSCL.

“The vessel acquisition will further help optimize the group’s fleet structure, increase shipment scale, and enhance the group’s comprehensive competitiveness. According to the internal estimation and calculation, the vessel acquisition provides certain risk-resistance and is economically and technologically feasible.”