Cosco (Guangdong) Shipyard, a subsidiary of shipbuilding and dry bulk shipping firm Cosco Corporation (Singapore), has entered into a contract to build three 1,750 TEU container vessels.

Ordered by an undisclosed European owner, the boxships are scheduled for delivery in the fourth quarter of 2019 and the first and second quarters of 2020, respectively.

The parties agreed to keep the financial details of the contract confidential, according to Cosco Corp.

The company added that, barring any unforeseen circumstances, the transaction “is not expected to have a material impact on the net tangible assets and earnings per share of the company for the year ending December 31, 2017.”