China International Marine Containers (CIMC) has entered into a $595m worth shipbuilding contract with Dalian Shipbuilding (DSIC) for the construction of seven 8,800 TEU containerships.
After the delivery, scheduled for 2015 and 2016, the vessels will be placed on long term charter contracts with Mediterranean Shipping Company (MSC) that will last for 204 months (17 years) ) at a day rate of USD $25,000.00 per vessel.
Upon expiration of the charter contracts, MSC will take over the ownership of the vessels. Each vessel will be bought for USD $21.5 million.