DSME receives three (more) orders for 18,000 teu container vessels

The South Korean shipbuilder DSME today disclosed in a stock exchange filing that it had won a KRW 422 million (USD 422 million) order from an unnamed Asian client to build three container vessels with deliveries to start from December 2015. DSME did not provide any further details, but the price tag of USD 140.67 million per vessel suggests that the orders are for 18,000 teu units.

About two months ago in early July, Hong Kong Asset Management (HKAM) had already placed firm orders for three 18,000 teu ships at DSME. Since these ships are believed to be scheduled for delivery in mid-2015, it appears that today’s stock exchange filing actually refers to a further three units of the same type, which will bring the series to six units.

The first three HKAM units are expected to join long-term charters with MSC and it appears quite likely that HKAM and MSC have once again cooperated to place another three orders at DSME. Since HKAM does not have a ship management branch, the new jumbo vessels are likely to join MSC on bare boat charters. Alternatively, the Hong Kong baased owner could out-source the vessel management to a third party.

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