A.P. Moller - Maersk Group Signs Contract for China Built Vessels

Friday, February 27, 2004
The Danish A.P. Moller - Maersk Group has signed contracts with Dalian New Shipbuilding and Guangzhou Shipyard International firming up orders to build four vessels for the A.P. Moller - Maersk Group’s fleet of product tankers. With the signing of these contracts, the A.P. Moller - Maersk Group has since 1996 ordered 51 large ocean going vessels from Chinese shipyards, representing a value exceeding USD 1.5 billion, making the Group the largest foreign buyer of vessels build in China. Tom Behrens-Sorensen, Chief Executive of the A.P. Moller - Maersk Group in the Greater China Area, said "the past 12 months have been a landmark period for our Group in China. Our Group’s container shipping company, Maersk Sealand, has significantly strengthened its product offering to China’s foreign trade, and contracts have been signed for significant investments in marine terminals in Shanghai and Qingdao by APM Terminals, a leading global container terminal operator also owned by the A.P. Moller – Maersk Group. These latest four vessel contracts crown a long list of achievements that has seen the ties between China and our Group grow even deeper." Mr. Behrens-Sorensen concluded, "That we are today celebrating the signing of the contract for the 50th large ocean going vessels ordered in such a short span of years bears witness to the competitiveness and high technical level Chinese shipbuilding has reached in recent years."
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