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US$1.8 billion for 11 more Maersk Triple E

PRESS RELEASE

June 02, 2015: Today, Maersk Line signed a new building contract with Daewoo Shipbuilding & Marine Engineering (DSME). The order is for 11 (eleven) plus 6 (six) optional second generation Triple-E container vessels with a capacity of 19,630 TEU (twenty-foot equivalent) each.

The vessels will have a length of approximately 400 meters (m), width of 58.6m, and a 16.5m draft.

The contract has a value of USD 1.8 billion. It was signed by Mr Sung-Leep Jung, President and CEO of DSME, and Mr Søren Skou, CEO of Maersk Line, at a ceremony at Maersk Line's headquarters in Copenhagen.

This is the second new-building order in Maersk Line's investment programme, following the seven 3,600 TEU feeder vessels announced earlier this year. Over the coming five years, Maersk Line is planning to invest USD 15 billion in new-buildings, retrofitting, containers and other equipment. Maersk Line will thus be able to maintain the necessary capacity to grow with global demand as well as replace less efficient tonnage.

"I am very happy with this order. These vessels will help us stay competitive in the Asia – Europe trade and will be key in our strategy to grow with the market. It is the second order this year and we expect to order more vessels, which we can add to our fleet from 2017 and onwards," says Søren Toft, Chief Operating Officer (COO) in Maersk Line.

The new vessels will be the largest in Maersk Line's fleet and are intended for the Asia - Europe service. The vessels will replace smaller, less efficient vessels.

Maersk Line has a long and close relationship with DSME. Most recently, DSME built the pioneering Triple-E vessels. The last (out of 20) will be delivered in June 2015.

The 11 new vessels will join Maersk Line's fleet between April 2017 and May 2018. They will sail under the Danish flag.

"I am very confident placing this order with DSME. The company has a very good track record. Together we can leverage our Triple-E experiences to further improve performance, not least energy efficiency," says Søren Toft.

DSME and Maersk Line are working on amplifying the features of the Triple-E vessels (efficiency, economy of scale and environmentally improved) in the new vessels.

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