China Shipping Container Lines (CSCL) will deploy five of the world's largest container ships by 2005. The 7,800 teu ships have been ordered by Vancouver-based shipbroker Seaspan and will be chartered by CSCL on long-term contracts from delivery.
The order, worth an estimated total value of US$350m, has been placed by Seaspan with the Korean yard Samsung Heavy Industries. A further order for five 4,250 teu vessels was expected to be confirmed by Seaspan, again with Samsung, and also for charter to CSCL.
During late December, China Ocean Shipping Co (Cosco) confirmed it had also reached an agreement with Germany's ER Schiffahrt to charter five new 7,500 teu vessels from Hyundai Heavy Industries. ER Schiffahrt ordered the new vessels for delivery in 2004, and Cosco said they would be used as replacements for ageing, smaller tonnage on one of the major East/West routes, most likely the trans-Pacific.