Chinese leading shipbuilder Jinhai Heavy Industry Co., Ltd. (JHI) has inked a deal with Norway-based shipping company SinOceanic for the construction of five 11,500teu container ships, according to a domestic shipping news portal.

The transaction totals approximately US$435m, with each vessel at about US$87m.

It is the first order of container vessels capable of holding over 10,000teu each received by the Chinese yard, according to the report.