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Hard on heels on recent orders placed by European shipping lines for 11 post-panamax ships worth an estimated US$555 million, more lines are joining the fray to take advantage of low prices offered by shipyards anxious to fill keep their berths working.
Following the move two weeks ago by CMA CGM ordered eight 5,700 TEU ships, and orders for three units of 3,600 TEUs vessels by Hamburg Süd, P&O Nedlloyd placed orders four of the world's largest containerships, in a move spurred by the prospect of the further appreciation of the won against the US dollar.
South Korean shipbuilding sources indicate that the Anglo-Dutch giant now wants to fast-track talks on the 7,500 teu boxships restarted last week, having pulled out in January after a full year of discussions.
They said the renewed interest reflected a desire to secure berths at South Korean shipyards in mid-2004, although P&O Nedlloyd may have to accept that slots would now only be available for end 2004/early 2005 deliver
Last week ZIM Israel Navigation Co joined the list of container lines ordering new ships.
The Israeli carrier placed contracts for four 5,000 TEU ships worth about US$200 million to be delivered in 2004.
The four ships ordered for Zim will be similar to a series of six being built by Hyundai Heavy Industries for the Israeli line.
According to market sources shipping lines are being attracted by some very keen pricing.
Latest figures from Clarkson Research's latest newbuilding market report suggested that a 6,200 teu post- panamax ship ordered in June could be landed for US$62m, 5.3% less than 12 months earlier, and equivalent to US$10,000 per
TEU.
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