Hanjin Shipping this week received the HANJIN BLUE OCEAN, the final unit in a series of nine 13,029 teu neo-panamaxes initially contracted by Munchmeyer Petersen & Co (MPC) at Hyundai Heavy Indutries, Ulsan. The German owner ordered these ships in February 2008 with the backing of long term charters to Hanjin, but failed to arrange sufficient funding for the vessels when the German KG investor model collapsed during the financial crisis.
Subsequently, five of the orders were taken over by Hanjin, whereas four were retaken by third-party investors through the Isle-of-Man-registered investment vehicle Gansey Bay Ltd. At the same time, the ships’ delivery dates were deferred by one year.
The HANJIN BLUE OCEAN is one of the Gansey Bay-owned vessels and the ship is to join the CKYH-alliances ‘NE 6’ service. She follows her Hanjin-owned sister vessel HANJIN GREEN EARTH, delivered earlier this month.