IMO ENVIRONMENTAL REGULATIONS
Are IMO regulations tough enough to keep national governments from imposing stricter measures?

Yes--Mostly
Only partly
No--expect a slew of regional regs!

Marine Log

July 27, 2007

Nordcapital orders eight 13,100 TEU box ships at HHI

Hamburg-based Nordcapital Group and Hyundai Heavy Industries (HHI) have signed contracts for the construction of eight container vessels with a capacity of 13,100 TEU.

The ships, which are the biggest container vessels ever built by HHI, will be delivered between April 2010 and March 2011 and are still available to the charter market.

They represent an order volume of US$ 1.4 billion (EUR 1.02 billion), the largest single order HHI ever received for commercial ships.

The innovative design features latest technological and ecological requirements including "environmental passport", an economic main engine fitted for low sulphur fuels, TBT free paint coatings and inboard fuel tanks.

"We believe the dynamic growth in the container industry will continue for many years to come. With rising volumes and higher energy prices bigger ships will become necessary for our customers to remain competitive", says Erck Rickmers, Chairman of the Executive Board of the Nordcapital Group.

"We are happy to further strengthen our close ties with Nordcapital, after the Group had already placed 45 orders with shipyards of the Hyundai family in the past", said K.S. Choi, President of Hyundai Heavy Industries. "The new ships will become a benchmark in the container industry".

Nordcapital is focused on the maritime sector as both a shipowner and investment company. Most of the fleet is managed by the E.R. Schiffahrt and OSM Schiffahrt charter lines, both of which are members of the Nordcapital Group. Nordcapital offers investors closed-end participations in shipping, real estate and private equity. Since it was founded in 1992 Nordcapital has achieved an investment volume of approximately EUR 5.1 billion in closed-end funds. About 41,000 investors have put EUR 2.1 billion of equity capital into 106 Nordcapital funds.

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