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Evergreen makes huge mega-vessel order

Taiwan-based shipping line Evergreen has announced plans to buy 10 of the biggest cargo vessels on the planet, which will be built at shipyards in South Korea and China.

The enormous order will cost Evergreen anywhere between US$1.4 billion and US$1.6 billion, according to estimates, and could see it move up a place in a league table ranking cargo lines by capacity. It is even likely to dash hopes in the industry that demand was finally catching up with an oversupply that has blighted the market for years, analysts said.

The first of the giant ships, which will have capacity of 23,000 twenty-foot equivalent units (TEUs), is likely to enter service in 12 to 18 months’ time, said Peter Sand, chief shipping analyst at BIMCO, the world’s largest shipping association.

Source: South China Morning Post

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