South Korean mid-sized shipbuilder Daehan Shipbuilding has entered the container ship segment after winning orders for up to four 1,000TEU ships from Pan Ocean.
South Korea's largest dry bulk carrier operator Pan Ocean has been expanding its container shipping business, which concentrates on intra-Asia routes, in line with the red-hot market.
The order at Daehan is made up of two firm units, with options for another two vessels. The firm orders are slated for delivery from May 2023.
The newbuilding price was not revealed, although brokers estimate the vessels to cost between US$37 million and US$40 million.
Each vessel has a length of 147.9 metres, a width of 23.3 metres and a height of 11.3 metres.
In October 2015, Daehan emerged from court protection after repaying debts. In 2011, as part of creditors’ arrangement, Daehan came under the management of Daewoo Shipbuilding & Marine Engineering.
Daehan CEO Chung Dae-sung believes that the shipbuilder’s maiden boxship order broadens its product portfolio as part of continuing business development. "Our workers have been soldiering on. We will repay our customers’ trust by building good-quality vessels and make a name for ourselves in the feeder ship segment," he said.