Alibaba-linked Transfar Shipping has further expanded its ship-ownership portfolio with the purchase of three feeder container ships for a total of $110 million.

Alibaba related Zhiyuan Shipping Transfar Shipping purchased three feeder container ships for a total price of US$110 million, further expanding the field of shipowners. Among them, two 1,800 TEU newbuilding ships were obtained for resale from China's StarOcean Marine (Ruiyang Shipping), as well as the 1,732 TEU A Daisen ship (built in 2010).

European brokers said the two newbuildings will be delivered in September and December respectively, with a cost of approximately US$43 million per vessel.

These two ships are among the eight 1,800 TEU ships currently ordered by StarOcean at Yangzijiang Shipbuilding Industry, and these eight ships are scheduled to be delivered between July 2022 and the end of next year.

Zhiyuan Shipping Chief Operating Officer Li Xiaobin (Robin Li) said that 1,800TEU container ships are very suitable for the Asian region. Zhiyuan Shipping needs new fleet capacity to support the operation of the route network. This transaction will promote the company's rapid growth in the Southeast Asian market. and support Alibaba’s expansion plans in international business.

Zhiyuan Shipping Co., Ltd. (Transfar Shipping Pte. Ltd.) currently has 4 self-owned ships (including 2 new ship orders) and 6 leased ships, with a total controllable operating capacity of 26,907TEU.