Hanjin Shipping orders five 13,000-TEU ships for US$850 million

SOUTH Korea`s Hanjin Shipping is to take delivery of five 13,000-TEU ships for a total of US$850 million, or $170 million apiece from an undisclosed shipyard with deliveries from first quarter 2012 into 2013.

The original order followed a deal in 2008 with a non-operating shipowner for the postpanamax vessels to be taken on charter for Hanjin. The purchase will improve cost structure through the expansion of its line-up, said the Korean carrier, according to Reuters.