SITC Shipping definition

SITC Shipping means SITC Shipping Company Limited, an indirect
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Examples of SITC Shipping in a sentence

  • It is envisaged that from time to time and as required, separate agreements may be entered into between SITC Development and/or its subsidiaries and SITC Shipping Group for the transactions contemplated under the Master Charter Agreement.

  • Accordingly, SITC Shipping is a connected person of the Company and the entering into of the Master Charter Agreement and the transactions contemplated thereunder constitutes continuing connected transactions for the Company under Chapter 14A of the Listing Rule.

  • Subject to the general principle disclosed above, the charter fee payable by SITC Development to SITC Shipping Group for the Vessel Chartering Services shall be determined with reference to (i) the total number and type of container vessels required by the Group for which the operation of the Group’s sea freight logistic business where chartered vessel is required; and (ii) the comparable market price for the same or comparable type of container vessels to be provided by independent third parties.

  • On 24 January 2017, SITC Development, a wholly-owned subsidiary of the Company, and SITC Shipping entered into the Master Charter Agreement, pursuant to which it is agreed that SITC Shipping Group will provide Vessel Chartering Services to SITC Development and its subsidiaries for a term commencing from the date of the Master Chartering Agreement and ending on 31 December 2019.

  • Subject: Pursuant to the Master Charter Agreement, the parties agreed that SITC Shipping Group will provide vessel chartering services (the “Vessel Chartering Services”) to SITC Development and its subsidiaries for the operation of the route of the Group.

  • The type of each container vessel that SITC Shipping Group will charter to SITC Development and/or its subsidiaries pursuant to the Master Charter Agreement will have a capacity of approximately 2,500 TEUs. Term: The Master Charter Agreement has a fixed term commencing from the date of the Master Chartering Agreement and ending on 31 December 2019 (both days inclusive).

  • The Group has been chartering vessels from SITC Shipping Group since 2016 and the annual historical transaction amounts for the vessel chartering from SITC Shipping Group payable by the Group for the year ended 31 December 2016 was as follows: Annual historical transaction amount 340,153 In addition to operating its self-owned fleet of vessels, the Company also chartered vessels to meet its operating requirements.

  • SITC Shipping is a company incorporated in Hong Kong and is principally engaged in vessel leasing.

Related to SITC Shipping

  • cargo ship means any ship which is not a passenger ship;

  • Houseboat means watercraft primarily used as habitation and not used primarily as a means of transportation.

  • Ship means a vessel of any type whatsoever operating in the marine environment and includes hydrofoil boats, air-cushion vehicles, submersibles, floating craft and fixed or floating platforms.

  • direct shipping ore means iron ore which has an average pure iron content of not less than sixty per cent (60%) which will not pass through a one half (½) inch mesh screen and which is sold without concentration or other beneficiation other than crushing and screening;

  • Shipping container means a MIL-STD-129 defined exterior container that meets carrier regulations and is of sufficient strength, by reason of material, design, and construction, to be shipped safely without further packing (e.g., wooden boxes or crates, fiber and metal drums, and corrugated and solid fiberboard boxes).