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Another big box ship order raises over capacity worries

From Marine Log:

Analysts are worried that the container shipping industry is about to build itself a whole new lot of overcapacity.

South Korea’s Daewoo Shipbuilding & Marine Engineering Co. said in a regulatory filing today that it has clinched a 927 billion won (US$818
million) deal to build five container vessels for delivery by March 15, 2020.

According to reports, the ships are 22,000 TEU mega carriers and MSC is expected soon to order six more, according to some reports those ships will be built at Samsung.

The news follows the September 15 announcement that Marseille, France, headquartered CMA CGM had approved an order for nine 22,000 TEU
containerships, with the builders now confirmed as China State Shipbuiding Corporation’s Shanghai Waigaoqiao Shipbuilding Co. and Hudong Zhonghua Shipbuilding (Group) Co.

More at Marine Log

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