CSCL Orders Five Triple-E Container Ships

Monday April 29, 2013

China Shipping Container Lines (CSCL) is ordering five fuel-efficient triple-E container ships, Dow Jones Newswires reports.

The company is the second to order the 18,000 twenty-foot equivalent unit (TEU) ships after A.P. Moller-Maersk (Maersk), which has ordered 20 of the vessels.

CSCL will pay about $140 million for each ship, for a total cost of $700 million, and Hyundai Heavy Industries, Samsung Heavy Industries, and Daewoo Shipbuilding & Marine Engineering have all submitted bids for the order, a source said.

CSCL, a unit of state-run China Shipping (Group) Co., said in a statement to the Shanghai Stock Exchange that the ships will “raise its core competitiveness.”

Maersk, which is scheduled to receive the first of its triple-E ships this summer, has said the vessels will reduce CO2 emissions as well as keeping costs down, thanks to their greater fuel efficiency.