Korean feeder service player Heung-A Shipping revealed on March 29th that its board had decided to invest in a new feeder containership.
The investment totals $21.5m for a 1,103TEU class newbuilding. It explains the decision was made in accordance with its fleet renewal program.
Heung-A added that the shipbuilding contract will be signed on April 8th 2013 and the newbuilding will be delivered by February 28th 2015. The company is securing the ship through a BBC-HP deal.
Industry sources report that the shipyard concerned is Japan's Kyokuyo Shipyard.