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HHI builds Korea's first 10,000teu containership

HHI builds Korea's first 10,000teu containership

Seoul: Hyundai Heavy Industries (HHI) has built a 10,000teu containership (pictured) for COSCO, christened "COSCO ASIA" at ceremony at its yard in Ulsan on Thursday. The vessel, to be delivered on August 6, measures 334mtr in length, 45.6mtr in width and 27.3mtr in depth. It is equipped with a 93,360bhp engine capable of producing a speed of 26 knots when loaded with 10,000teu containers.

"The COSCO ASIA is a Korean milestone, the country's first 10,000teu containership," said Hong Sung-il, HHI vp for ship sales, adding, "With the successful completion of the ship, HHI further increases their lead in the global super-large containership market. HHI is famous for its advanced technology and shipbuilding abilities, especially concerning high-value-added ships, among global shipping companies."

The vessel, which is the fourth of its kind ordered by COSCO from the yard has been classed by Lloyd's Register (LR). The other vessels are scheduled for delivery by mid-2008. COSCO also has two other vessels on order at the yard.

HHI claims to have the world's largest orderbook of containership orders, "with 160 vessels on order, including some 30 containerships of 10,000teu capacity and above, ordered by owners in Germany, Switzerland and France."

According to LR, super post-panamax container ships ?" those above 7,000teu in capacity ?" have grown in popularity among shipowners in recent years due to the commercial advantages they offer over the smaller models. They now account for 37% orderbook by slot capacity and 38% by gross registered tonnes, according to data from Lloyd's Register-Fairplay.

In a statement, LR said, "Owner-operators may see unit cost savings as high as 35% when upsizing from a 6,800teu vessel to 11,800teu. Provisional plans emerging from some of the world's leading design houses suggest vessel capacities may reach 12,500teu, while still being able to transit the new dimensions of the Panama Canal after its present enlargement project is completed in 2014."  [27/07/07]