China Shipping Container Lines Co. orders the world’s biggest container ship, taking over the title from Maersk Line.
Hyundai Heavy Industries Co. will build five vessels each capable of carrying 18,400 20-foot containers for $700 million for China Shipping, the Ulsan, South Korea-based company has informed Bloomberg. Delivery will start in the second half of 2014.
Shipping lines, including Maersk and Evergreen Group, are adding bigger vessels that burn less fuel and have lower emissions to reduce costs. Maersk next month will take delivery of the world’s biggest container ship, which can carry 18,000 TEU containers, from Daewoo Shipbuilding & Marine Engineering Co.