Signing up with SITC

17 June 2011

Graig China Limited has been appointed by SITC Development Group Co to supervise the building of a 76,000 dwt bulk carrier and three 1,100teu containership newbuildings at China Yang Fan shipyard. Under the agreement signed on 15th June 2011 GCL will also provide plan approval for the container ships. Recently SITC is actively expanding its fleet and has ordered four 76,000 dwt bulk carriers and eight 1,100teu container vessels with eight options. Subject to performance on the first vessels Graig expects its supervision to be extended to cover the entire series.

SITC International Holdings Co., Ltd. is an integrative shipping logistics company listed on the Hong Kong Stock Exchange. Its business covers container liner shipping, freight forwarding, customs clearance, inspection service, shipping agency, ship brokerage, ship ownership/management, trucking and customs clearance. The company operates 49 vessels, 16 of them owned.

The new contract from SITC is further confirmation of Graig’s recognized expertise in helping Chinese owners to manage their newbuilding programmes. Today Graig is supervising over 50 newbuildings in China, 26 of which are for Chinese owners.

The photo shows Mr. Xiao Senyuan, President of SITC Devolepment Group Co and Captain John Coffin, CEO, Graig China, concluding the agreement.