Maersk Line orders nine 14,000 TEU container vessels in $1.1 billion deal

Maersk Line signed a new building contract with Hyundai Heavy Industries (HHI). The order is for 9 (nine) vessels with a capacity of 14,000 TEU (twenty-foot equivalent) each. The contract has a value of USD 1.1 billion.

Copenhagen - Today, Maersk Line signed a new building contract with Hyundai Heavy Industries (HHI). The order is for 9 (nine) vessels with a capacity of 14,000 TEU (twenty-foot equivalent) each. The agreement includes an option for up to 8 (eight) additional vessels. The vessels will have a length of 353 meters. The contract has a value of USD 1.1 billion. It was signed by Mr. Sam H. Ka, Chief Operating Officer (COO) of HHI and Mr. Søren Toft, COO of Maersk Line, at a ceremony at Maersk Line’s headquarters in Copenhagen. This is the third new-building order in Maersk Line’s investment programme announced in September 2014. The order follows the seven 3,600 TEU feeder vessels and eleven 19,630 TEU Triple-E vessels announced earlier this year as part of Maersk Line’s USD 15 billion investment in new-buildings, retrofitting, containers and other equipment. Maersk Line will thus be able to acquire the capacity it needs, replace less efficient tonnage and increase its share of owned vessels. “I am very pleased about this order for which we have taken a new approach. The vessels will be designed to operate in and perform efficiently across many trades and not just designed for one specific trade. They will help us stay competitive and make our fleet more flexible and efficient,” says Søren Toft. Designing vessels with a flexible operational profile is a first for Maersk Line. By moving away from hulls designed with a certain speed and draft in mind, Maersk Line is strengthening its fleet with vessels which can be deployed on East-West or North-South trades where requirements differ, with no impact on fuel consumption. The nine vessels will join Maersk Line’s fleet in 2017 and sail under Singaporean flag. Since 2002, HHI has delivered more than 50 container vessels to Maersk Line, including 22 WAFMAX vessels (4,500 TEU), which were delivered in 2011-13. “We have a long and good relationship with HHI. The quality of the vessels has always been up to high standards and we look forward to receiving this new batch,” concludes Søren Toft.