French shipping giant CMA CGM has ordered four 3,300teu container ships from the Chinese COSCO (Zhoushan) Shipyard, a subsidiary of COSCO Shipyard Group.

Under the contract signed between the parties, the new containerships are scheduled for delivery between March 31, 2018 and August 31, 2018.

COSCO Zhoushan and CMA CGM have agreed to keep the contract prices confidential, according to the shipbuilder.

"Barring any unforeseen circumstances, the above transactions are not expected to have a material impact on the net tangible assets and earnings per share of the company for the year ending 31 December 2016," said the shipbuilder.

At the beginning of May, COSCO Zhoushan inked a contract to build two 113,000dwt crude oil tankers for an undisclosed European buyer. The crude oil tankers are scheduled for delivery in the first and second quarters of 2018, respectively.

The contract comes with the option to build two more 113,000dwt tankers.