[190711.EN.SEA] Maersk Line Orders 10 More 18,000-TEU Ships For a Total Of 20

MAERSK Line has exercised its option with South Korea's Daewoo Shipbuilding & Marine Engineering to build 10 more 18,000-TEU Triple-E ships, after ordering 10 ships of this type in February with two options, each for an additional 10 ships for US$190 million a piece.

"I am very excited to have signed a contract with Daewoo for 10 more Triple-E ships. We now have 20 Triple-E on order. They underline our strong commitment to the Asia-Europe trade and fit well with our current ambitions and expectations for the future development of the trade. We believe the Triple-E ships with their record capacity and energy efficiency will enable us to deliver on the commercial and environmental expectations of our customers and also give us a significant competitive advantage in the market," said Maersk CEO Eivind Kolding.

The move comes as the shipping line forecasts that demand on the Asia to Europe trade will increase by between five and eight per cent annually during 2011-2015. By introducing the Triple-E vessels from 2013, the carrier expects to meet increasing demand as well as maintain its market share. The first 10 vessels will be delivered 2013 and 2014; and the second 10 vessels are scheduled for delivery in 2014 and 2015.

Four-hundred metres long, 59 metres wide and 73 metres high, the Triple-E is the largest ship afloat. Its 18,000-TEU capacity is 16 per cent greater than the 14,770-TEU Emma Maersk.

The Triple-E will produce 20 per cent less CO2 per container compared to the Emma Maersk and 50 per cent less than the industry average on the Asia-Europe trade lane. In addition, it will consume 35 per cent less fuel per container than the 13,100 TEU vessels being delivered to other container shipping lines in the next few years, also for Asia-Europe service.

The deadline for exercising the last option for an additional 10 vessels is at the end of December 2011. At this point the carrier said it does not intend to exercise the option. However, it said it will reserve its right to hold off on any final decision until the deadline, a statement said.

Source : HKSG.