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Hanjin Shipping signs charter with Danaos for five new 3,400-TEU ships
POSTED: 9:51 a.m. EDT, April 24,2007
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HANJIN Shipping has signed an agreement to charter five new 3,400-TEU containerships for a maximum of 13 years from Danaos Shipping Co.
The vessels are currently on order with South Korean shipbuilders, Hanjin Heavy Industries. The deal was signed earlier this month between Hanjin Shipping and the Greek shipowner at Hanjin Shipping's head office in Seoul.
The contract was said to have been made in order for Hanjin to secure seven chartered vessels of 3,000 TEU to replace the current vessels on charter that will have to be returned. The move is also designed to prepare adequate vessel line-ups for potential mid- to long-term demand.
Under the contract, Hanjin Shipping will be provided with mid-sized container vessels of 3,398-TEU capacity. Each vessel is equipped with environmentally-friendly engines that are designed to save as much as about 600 tons annually.
The vessels are scheduled for delivery from late 2009. The vessels are expected to be deployed on the Mediterranean and South America routes and help boost profitability by reducing operational costs.
Hanjin Shipping currently operates approximately 90 container vessels on 60 routes worldwide.
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