Illustration of the Maersk Triple-E with 18,000 teu capacity. Image: Maersk Line

An illustration of the Maersk Triple-E with 18,000 teu capacity. Once delivered in June, the first Triple-E will beat out CMA CGM’s Marco Polo for title of world’s largest containership. Image: Maersk Line

(Bloomberg) — China Shipping Container Lines Co., the country’s second-biggest shipping company, ordered the world’s biggest container ship, taking over the title from A.P. Moeller-Maersk A/S.

Hyundai Heavy Industries Co. will build five vessels each capable of carrying 18,400 20-foot containers for $700 million for China Shipping, the Ulsan, South Korea-based company said in an e-mailed statement today. Delivery will start in the second half of 2014.

Shipping lines, including Maersk and Evergreen Group, are adding bigger vessels that burn less fuel and have lower emissions to reduce costs. Maersk next month will take delivery of the world’s biggest container ship, which can carry 18,000 boxes, from Daewoo Shipbuilding & Marine Engineering Co.

The ships Hyundai Heavy will deliver to China Shipping will use an engine that can automatically control fuel consumption to suit speed and sea conditions, helping to improve fuel efficiency, reduce noise and cut emissions.

Hyundai Heavy, the world’s biggest shipbuilder, has received $9.7 billion of contracts for ships and offshore projects this year including the latest order, it said. It has achieved 41 percent of the $23.8 billion target set for 2013.

Maersk ordered 20 ships of the type that can each carry 18,000 boxes in 2011, which was the world’s biggest then. Five of the vessels are scheduled for delivery this year.

CMA CGM SA, the world’s third-largest container shipping company, operates the biggest vessel in operation, which can carry 16,000 boxes.

Hyundai Heavy was unchanged at 197,000 won as of 1:08 p.m. in Seoul and has lost 19 percent this year. China Shipping advanced 1.6 percent to HK$1.92 in Hong Kong trading.

- Kyunghee Park, Copyright 2013 Bloomberg.

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  • http://Caphenning.com Henning

    I find it quite interesting that COSCO buys ships from Korea, I guess they want better quality than ‘Made in China’ can provide.

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  • Boats

    China Shipping is not China Ocean Shipping (COSCO) two different company’s. COSCO owns shipyards China Shipping no yards.

    No Jones act in China, owner can go were he wants. Guess who has all the large container ships. County’s that can build any yard. US could keep American Crews build offshore and have international fleets. Not the crew holding American Flag back. Liablity Regulation and Construction cost

    Boats

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