Marine Log

September 11, 2006

Hyundai bags $1.2 billion boxship order

Hyundai Heavy Industries Co. Ltd. (HHI) has contracted an order for eight 11,400 TEU containerships with its long-time client, CMA-CGM of France.

The order is valued at US$1.2 billion and is said to be the largest single contract newbuilding order as a single contract in the world.

The ships will be equipped with the world's largest 98,000bhp marine engines and sail at a speed of 24.7 knot with 11,400 twenty-foot containers.

Each ship will measure 363 m in length, 45.6 m in width and 29.7m in depth. This compares with the 397 m x 56 m x 30 m of the world's largest containership, Emma Maersk. They are scheduled for delivery from mid 2009 to mid 2010.

CMA-CGM's has already ordered 17 ships from HHI, some of which have been delivered, while others are under construction at HHI's yard.

Including this eight 11,400TEU containership order, HHI has received 45 large containership orders including 13 for its affiliate, Hyundai Samho Heavy Industries (HSHI) so far this year HHI now has 21 super-large containerships of 10,000 TEU capacity and over on its backlog (including those at HSHI).

This year, HHI has won orders for115 ships worth US$12.1 billion, bringing its total order backlog to 340 ships, worth more than US$33 billion(including HSHI). HHI will be occupied with its shipbuilding work over the next three years.