HHI wins 10K boxship order

Hyundai Heavy Industries in South Korea has signed a contract to build four 10,000TEU container ships for COSCO, China?s shipping company, and are the largest vessels of their type ordered to date. The contract value is $509.6 million and all four are expected to be delivered by August 2008. These ultra-large container carriers will measure 349 metres in length, 45.6 metres in width, have a depth of 27.2 metres and will be fitted with a 94,000 bhp engine for a service speed of 25.8 knots.

In order to meet the market trend for even larger boxships, HHI has already completed the design development of a 12,000 TEU vessel and is currently marketing this design.

HHI’s backlog order for post-Panamax boxships with a capacity of over 8,000 TEU now totals 35 units giving the shipbuilder a 35% share of the market.

In addition to this order, HHI has also received orders for two 8,600 TEU containerships from Hapag Lloyd of Germany and one 35,000 cubic meter LPG carrier from Orix of Japan.