China Bank of Communications Leasing leases 4 boxships to Mediterranean Shipping Company in 2020

Project narrative

In December 2020, China Bank of Communications Leasing Co. (BoComm Leasing) signed a construction agreement with two Chinese shipbuilding companies, Jiangnan Shipyard and Hudong Zhonghua, to construct 4 boxships by 2023 for $600 million. At the same time, BoComm Leasing signed a long-term leasing contract with Mediterranean Shipping Company, S.A. On March 9, 2023, MSC Irina and MSC Tessa were delivered. The Shanghai-built MSC Tessa was the first over 24,000 from the Hudong-Zhonghau with a capacity of 24,116 but slightly behind the new OOCL Spain built by Nantong COSCO Kawasaki Ship Engineering Co. (NACKS) in Nantong, China with a capacity of 24,188. It comes equipped with a hybrid scrubber, small bulbous bow, large diameter propellers, and energy-saving ducts. At the same time, the 400-meter-long ship uses air lubrication which reduces the total energy consumption and the corresponding total carbon emissions by 3% to 4%. On March 17, 2023, MSC Tessa left from her first port in China to begin a trip to Northern Europe. In an interesting development, the second vessel MSC Irina is not being placed on the same route. MSC’s schedule on its webpage shows the vessel entered service on March 21. MSC Irina departed Qingdao on March 23, first proceeding to Busan, South Korea, and then back to five Chinese ports before departing for Singapore and the Suez Canal. Once it reaches the Mediterranean, the vessel goes to ports in Italy and Spain before proceeding to Saudi Arabia and the UAE and then back to Asia.