Hapag-Lloyd Orders Two Ships

Hapag-Lloyd ordered two 8,600 TEU containerships from the South Korean shipyard Hyundai Heavy Industries for delivery in spring and autumn 2007. The newbuildings will have a length of 335m, width of 43m and draught of 14.50m and be able to carry 8,600 standard containers (TEU). They will have a speed of 25 knots. It is planned to deploy the vessels between Europe and the Far East. Hapag-Lloyd released no details on the construction costs. In its forecast published in January 2004, the international market research institute Global Insight expects global container transport to continue to increase in the next few years. "Our fleet expansion programme shows that we intend to take advantage of the market opportunities resulting from the expected growth in world container transport. In view of the current market conditions, we have decided to purchase the ships, as this is less expensive than chartering," commented Michael Behrendt, chairman of the executive board of Hapag-Lloyd AG. Hapag-Lloyd will take delivery of the last newbuilding in a series of four 6,750 TEU containerships in late April 2004. Two vessels of 8,400/8,600 TEU will be added in 2005, and a further 8,600 TEU newbuilding will follow in 2006. The two ships ordered today are due for delivery in 2007. Hapag-Lloyd's fleet currently consists of 47 modern vessels (as of the end of April 2004).