CSCL to Order 18,000 TEU Ships

According to  Dow Jones Newswires, China Shipping Container Lines (CSCL)  plans to order five 18,000 TEU (20-foot-equivalent unit) container ships.  These will be the  world’s largest, making CSCL he first carrier to challenge Maersk Line, which will deploy the first vessel of this size in the Asia-Europe trade in June.

In a statement to the Shanghai stock exchange, CSCL said it needs the new ships to “raise its core competitiveness”.

Hong Kong-based CSCL, the world’s ninth-largest carrier, said, “Further details will be disclosed after a firm contract is signed.”

The South Korean shipbuilding giant Hyundai Heavy Industries has won the bid to build the massive container ships and discussions are taking place between CSCL and Hyundai to finalize shipbuilding contracts for five vessels. China Shipping management agreed to the order at a board meeting last Sunday. The container ships will be deployed on the Asia-Europe route.

Samsung Heavy Industries and Daewoo Shipbuilding and Marine Engineering have  also submitted bids, but as an insider at Daewoo Shipbuilding and Marine Engineering said “it wasn’t enough to win”.

Each triple-E ship is expected to cost around US$140 million for a combined sum of $700 million.

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