Declining freight rates are not stopping lines from investing in new post-Panamax ship buildings, according to analyst Braemar Seascope.
Since the beginning of this year, 52 containerships of 10,000 20-foot container equivalent units or larger have been ordered, the London-based ship brokers said. Ten ultra large container ships were ordered in the 2010 and none were ordered in 2009.
A.P. Moller-Maersk Group leads the way in placing new orders in 2011 by commissioning Daewoo Shipbuilding to build 20 vessels each of 18,000 TEU capacity.
OOIL, the parent company of Hong Kong-based carrier OOCL, ordered 10 vessels each of 13,000 TEU capacity from Samsung Heavy Industries in March.
“This year’s container ship orders add 765,000 TEU to the post-Panamax boxship order book,” said Braemar. “As of August 30, 2011, the total number of vessels of this size on order reached 158 ships, totaling 2.13 million TEU, which represents 48 percent of the fully cellular order book.”
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