Evergreen orders ten 8,000-TEU ships from Samsung for US$1.7 billion

TAIWAN`s Evergreen had placed a KRW2.04 trillion (US$1.7 billion) order for ten 8,000-TEU ships from Korea`s Samsung Heavy Industries with the first delivered in 2012.

"The 10 ships are the beginning of a programme of a new generation of container vessels that will be ordered by Evergreen from several yards in Asia," said the Evergreen statement.


Details of the full programme will be made public as negotiations progress on price and the technical ability of shipyards to meet Evergreen`s environmental and fuel conservation standards, said the statement.


Samsung Heavy Industries said it has signed contracts worth to build 10 containerships and nine oil tankers.


As a result, Samsung has secured orders for a combined 51 vessels worth $5 billion dollars this year, or 63 per cent of its new order target of $8 billion for 2010, said Samsung.


The shipbuilding industry is said to be interpreting the orders as a sign of recovery in the containership market, after those of bulk carriers and oil tankers. "The resumption of orders for container vessels could herald recovery of the real economy," said the Samsung statement.


The container vessel market came to a standstill following the onset of the global financial crisis in September 2008, but its recovery has drawn keen attention. The freight index, the barometer of the containership market, has gained nearly 80 per cent from early this year, said Samsung.


The price of an 8,000 TEU-class container vessel was $86 million per unit early this year according to shipping services group Clarksons. With Evergreen`s order for 103 million dollars per unit, the price is also growing.


With a length of 334.8 metres (1,100 feet) and a beam of 45.8 metres (150 feet), the new ships will have cruising speed of 24.5 knots. With fuel-saving features and a highly efficient operation are designed to provide shippers punctual delivery service.