Marine Log

August 24, 2006

Hanjin orders five 10,000 TEU containerships

Hanjin Shipping has become the first Korean carrier to place an order of five 10,000 TEU containerships.

At ceremonies in Seoul today Hanjin Shipping President & CEO Jung-won Park and Samsung Heavy Industries CEO Jing-wan Kim signed the contract for the ships.

The five vessels ordered are scheduled for successive deployment from February of 2010 on Hanjin's trans-Pacific trade and expected to provide better customer service and rationalize the company's fleet operation.

The order is in line with Hanjin's mid-to-long-term strategy to lead a global shipping market increasingly dominated by large vessels.

A total of eight owned 6,500TEU vessels were ordered in 2003 through 2004 and started to be deployed on the Asia-Europe trade from the second half of 2006. And large 8,000TEU containerships began to be deployed successively on the trans-Pacific trade from the second half of 2005.

Currently operating 80 containerships on 60 lanes worldwide, Hanjin Shipping has and will continue to expand and rationalize its fleet and strengthen ties with the CKYH Alliance. Furthermore, the Korea's largest ocean carrier will remain committed to change and innovation as it struggles to become "the premier total logistics company most trusted by customers worldwide."

The 349 m x 45.6 m 117,000 DWT ships will each have a container capacity of 9,954TEU, an engine output of 93,000 bhp and an operational speed of 25.7 knots