China Shipping plans fleet expansion

China Shipping plans fleet expansion China Shipping Container Line plans to invest $2 billion on container ships in the coming years, according to the newspaper China Daily.
   The paper quoted Huang Xiaowen, managing director, as saying that with the investment, CSCL is expected to operate a fleet of more than 180 ships with a combined carrying capacity of 630,000 TEUs by 2011.
   According to AXS Alphaliner, CSCL currently has a fleet of 86 owned and 54 chartered ships with a total capacity of 428,653 TEU, making it the world's sixth-largest container fleet. Alphaliner said CSCL has 40 ships on order with a total capacity of 253,312 TEUs.
   The China Daily story said ships on order include four 8,500-TEU container vessels and four 4,200-TEU models that will be delivered before 2009.
   The newspaper also said CSCL has signed a contract with Samsung Heavy Industries to build eight 13,300-TEU ships that will be put into use by 2011.