SITC International Holdings has exercised an option to build two containerships with Yangfan Group.
The two containerships of 1,100 teu each, valued at a total of $36.2m, are scheduled to be delivered by 31 August 2012, according to a statement by SITC on Friday.
China-based SITC said the newbuildings will enable the company to expand its self-owned fleet of containerships to meet the increase in demand for the company's services.