Tuesday, June 28, 2011

Maersk Orders 10 Additional Megaships

Danish shipping giant A.P. Moller-Maersk on Monday announced it has placed a $1.85 billion order for 10 additional megaships from South Korean firm Daewoo Shipbuilding and Marine Engineering Co.

The 18,000-TEU vessels, known as Triple-E class vessels, were ordered under an option on a deal inked in February. Under the terms of the deal, Maersk placed an initial $1.9 billion order for 10 Triple-E vessels with an option for 20 more.

The first of 10 Triple-E vessels are set for delivery in 2013 and 2014. Monday's order of 10 additional vessels are set for delivery in 2014 and 2015. The remaining 10 Triple-E vessels under the option arrangement have not yet been converted to an order, but must be exercised no later than the end of 2011.

The 30-ship Maersk order, with options, is the largest ever received by Daewoo.

When completed, the Triple-E class vessels will be the largest container vessels afloat at 1,312 feet long and 194 feet wide. The vessel's official reported capacity of 18,000 TEUs is more than 2,500 TEUs larger than the current cargo vessel record holder.

The Triple-E vessels are expected to enter Maersk's lucrative Asia-Europe trade.