Daewoo lands record Maersk order

Korea - AP Moller-Maersk said it has placed an order for 16 container vessels from Daewoo Shipbuilding and Marine Engineering in a record 2.44 trillion won (US$2.34 billion) deal.

This follows after the world's largest shipbuilder, Hyundai Heavy Industries, received a US$1.2 billion contract from Maersk last month for 18 ships.

Daewoo will supply ships of individual capacities of 7,450 TEU (twenty-foot units), and will be able to carry up to 1,700 refrigerated containers. They will be delivered by 29 June, 2012.

The ships are specially designed for trade between the East Coast of South America and Asia and Europe. They also meet safety demands and are fuel-efficient, Maersk said in a statement.

Maersk senior vice president Michel Deleuran says, "We expect a continued strong growth in these markets; we believe that this order shows our long-term commitment to providing service and support to our customers' increasing business in the aforementioned trades"

Trade between Asia and the East Coast of South America has been especially lucrative, expanding more than 20% per year on average and expected to grow further in the next five years, Maersk predicted. Trade between these regions is driven mainly by the export of perishable food products that are transported in refrigerated containers.