South Korea's Hyundai Merchant Marine (HMM) has confirmed an order with Daewoo Shipbuilding & Marine Engineering to build five 13,100-TEU ships for US$129 million per ship with deliveries to start in 2013.
This brings to 10 the number of 13,000 TEU ships to join the HMM fleet. Danaos Shipping ordered the first five in September 2007 with the backing of a 12-year charter by HMM.
Their delivery was initially planned for January-August 2011, but deferred by nine to 12 months due to the global financial crisis, reports Alphaliner. The Danaos quintet was ordered at Hyundai Samho yard and priced at $167 million per ship.
The 10 ships are intended for the Asia-Europe trade. The first units (Danaos-owned) are planned to join the Asia Europe Express service in early 2012.
Prices for new 13,000 TEU ships have fallen by more than 20 per cent since 2007, when the first series of 13,000 TEU ships were introduced by South Korean yards.