Each of the vessels will cost around $54m. 

The first vessel is expected to be delivered in the first quarter of 2023 and the remaining three will be delivered in the second and third quarter. 

The newbuilds could renew chartered and older vessels in Wan Hai’s fleet after delivery next year, which will strengthen the company’s competitiveness amid this complex market, said Wan Hai.

Last year, CSBC decided to invest in and build four 3,000 teu containership due to the booming container market. The sale of the four vessels to Wan Hai will improve the shipyard’s performance significantly.