CP Ships Continues New Ship Spending Spree

Monday, November 20, 2000
CP Ships has taken the next step in its major fleet re-building program by signing a contract with China Shipbuilding Corporation of Taiwan for the construction of five geared 3,200 TEU containerships. They are designed to be employed in CP Ships' South American services. Delivery of the newbuildings will take place between mid-2002 and early 2003. The ships will measure 243 m long by 32.2 m wide, and will be equipped with 400 reefer plugs and operate at a service speed of 22.5 knots. Several containerships built by China Shipbuilding Corp already serve in the CP Ships fleet. With the China Shipbuilding contract, CP Ships has passed the half-way point in a series of retonnaging commitments, which when realized, will increase significantly the proportion of owned and long-term chartered ships in CP Ships' fleet. "This retonnaging program will reduce ship system costs, improve operating efficiency and expand capacity throughout the group. It will also reduce our exposure to the short-term charter market and reshape our fleet so that it consists of ships suitable for deployment in many of our trades," commented CP Ships CEO Ray Miles. In the past year, CP Ships' fleet investment commitments have included: * Contract with Daewoo for three x 4100 TEU high reefer content newbuildings for delivery in 2002, to be deployed by Contship Containerlines in its Europe-Australasian trades. * Acquisition of one 3000-TEU ship from CMA-CGM to be deployed under U.S. flag in Lykes Lines' Gulf Atlantic Sprint service. * Acquisition of six 3300-TEU used containerships from Yang Ming for deployment by Americana Ships in 2001. * Acquisition of two RoRos in ANZDL's Trans Tasman trade. * Long-term charter of six x 4100-TEU newbuildings being built by Samsung for deployment starting in 2002. CP Ships has also extended charters on several of its core ships being operated by Contship, Lykes Lines, TMM Lines and ANZDL.
Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Zarmati joins Fathom

Fathom has engaged 44-year cruise industry veteran Maurice Zarmati to work with the burgeoning company. Fathom, which provides a different kind of cruise that

Seaspan Acquires Sixth 14000 TEU Boxship

Seaspan Corporation  announced today that it accepted delivery of a 14000 TEU containership, the YM Warmth. The new containership, which was constructed at Hyundai Heavy Industries Co.

Moody Upgrades Port of Palm Beach

The Port of Palm Beach District announced that Moody’s Investors Service, Inc. upgraded the Port of Palm Beach District senior rating to Baa3 from Ba1, and reported the outlook to be stable.

Tanker Trends

Creole Spirit Sets Sail for Sea Trials

Teekay’s first M-type, Electronically Controlled, Gas Injection (MEGI)-powered LNG vessel, Creole Spirit, has sailed out from the Daewoo Shipbuilding & Marine Engineering

House Passes Bill to Repeal US Oil Export Ban, Veto Looms

The U.S. House of Representatives passed a bill on Friday to overturn the 40-year-old ban on oil exports, but the measure did not get enough support to overturn any veto by President Barack Obama,

Commodity Surge Boosts World Equities; Dollar Falls

Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in

Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1235 sec (8 req/sec)