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Cosco to build seven container vessels for Maersk

Valentine Watkins

China's Cosco Shipyard has signed a contract with Denmark's Maersk Line to build seven 3,600TEU container vessels.

The two companies have kept the price of the order confidential.

The container vessels will be 200 metres in length, have a width of 35.2 meters and a draught of 10 metres.

They are slated for delivery in 2017, and the order has the option for two additional vessels.

Maersk has said it will invest US$5 billion over the next five years into newbuilding vessels and equipment.