COSCO Sets Sights on 19,000 TEU Megaships

zoom China Cosco Holdings Co. is gearing up to order at least ten 19,000 TEU containerships, an investment worth around USD 1.4 billion, the Wall Street Journal writes citing sources with direct knowledge of the matter. As informed, the order is expected to be placed by the end of May at a Chinese shipyard, which is being selected at the moment. The ships are intended to be deployed in the Asia-to-Europe trade loop. The announcement comes on the back of several 20,000 TEU containership orders placed by shipping majors over the recent period as they up the ante in container trade. Coscos plans seem to have been triggered by the growing pressure from the competition despite previous doubts on whether these ships could be filled with enough cargo as othwerwise their efficiency is put to question. The most recent orders for these giants of the seas include OOCLs order for six mega containerships that will feature  21,100 TEU units, as announced by their builder, South Korean shipbuilder Samsung Heavy Industries (SHI). These will be the biggest boxships to be constructed yet on global scale. Japanese shipping company Mitsui O.S.K. Lines, Ltd. has ordered six 20, 000 TEU containerships whereas the French liner company CMA CGM has ordered three 20,600 TEU boxships at Hanjin Heavy Industries. World Maritime News Staff