The container shipping company Pacific Singapore's International Lines (GDP) has signed a new agreement with the Chinese subsidiary Singamas Container Holding under the which the latter in the three-year period 2025-2027 will provide the GDP new containers of all the main types for a value of up to to $120 million in the first year, up to $105 million in 2026 and up to $110 million in the last year. The agreement follows a similar agreement between the two parties relating to the three-year period 2022-2024 for the supply of new containers up to 120 million dollars in each of the three years.

Announcing the new agreement, which has been signed yesterday, the parties explained that GDP has increased significantly their demand for new containers even after the order for the construction of 13 new container ships of the capacity of hold equal to over 150 thousand TEUs that will be taken over in the next few years. These are four ships of 14 thousand TEUs ordered in the 2022 at Jiangnan Shipyard, of four 8 thousand TEU units ordered in the same year from Yangzijiang Shipbuilding and five 13,000 TEU container racks ordered last August to Hudong-Zhonghua Shipbuilding ( of 4 March and 5 July 2022 and 19 August 2024).

GDP, which is the controlling shareholder of Singapore, is indirectly controlled by the sovereign wealth fund Temasek Holdings of Singapore through Heliconia Capital Management.