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Cosco orders five 14,500-TEUers, following CKYHE alliance trend

COSCO has confirmed an order for five 14,500 TEU ships from China State Shipping Corporation's Shanghai Jiangnan Changxing Shipbuilding, it was revealed in a stock market announcement.

Cosco orders five 14,500-TEUers, following CKYHE alliance trend
18 September 2014 - 21:18
Cosco orders five 14,500-TEUers, following CKYHE alliance trend

COSCO has confirmed an order for five 14,500 TEU ships from China State Shipping Corporation's Shanghai Jiangnan Changxing Shipbuilding, it was revealed in a stock market announcement.

Last week, another CKYHE Alliance member, "K" Line, also ordered five 14,000-TEUers, which are becoming standard unit on the Asia-Europe route, as well as being able to transit the expanded Panama Canal in some cases. All together, CKYHE will deploy seventy-five 13,000-14,500 TEUers.

The Cosco ships are to be delivered in 2017 and 2018 for US$618 million, or $123.6 million each, which compares with market value of $115 million to $120 million from Korean yards.

The stock market statement said Cosco it had ordered the vessels to “improve the competitiveness of its shipping fleet?

The orders, part of scheme to add five box ships and 30 bulkers, came after Beijing's scrap-and-build programme was announced. This involves subsidy financing in the scrapping 31 ships as well as bank loans.

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