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CMA CGM denies it is in talks with Korean yards for 20,000-TEU ships

CMA CGM denies it is in talks with three major South Korean shipyards to order a number of ultra large containerships.

CMA CGM denies it is in talks with Korean yards for 20,000-TEU ships
24 February 2016 - 23:23
CMA CGM denies it is in talks with three major South Korean shipyards to order a number of ultra large containerships.
Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME) have all confirmed they are in talks with CMA CGM for the potential order of new 20,000-TEUers, reports IHS Fairplay.
"CMA CGM has been in discussions with us about the containerships. But we don't know how many ships CMA CGM will order, or the price, at this point," said DSME.
Both HHI and SHI confirmed that their companies have been approached by CMA CGM, but did not provide further details of the discussions.
Following a period of newbuild ULCS orders in 2011 until 2014, plummeting container freight rates in 2015 are said to have halted megaship orders, with Maersk Line understood to have been the last company to place such an order in June of 2015.
"This is likely to put pressure on newbuilding prices and the South Korean yards are hungry for orders, especially when drillship and LNG carrier orders have also dried up," said one ship broker, adding that CMA CGM is likely aiming for a per vessel price of no higher than US$160 million.
CMA CGM is also in the process of a $2.4 billion takeover of Singapore-based box shipper Neptune Orient Lines (NOL).
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