Monday, August 25, 2008

Hanjin Shipping Orders Five 10,000TEU Containerships

Hanjin Shipping has become the first Korean carrier to place an order of five 10,000TEU containerships. At Hotel Shilla in Seoul at 5 pm on August 24, 2006, Hanjin Shipping President & CEO Jung-won Park and Samsung Heavy Industries CEO Jing-wan Kim signed the contract for building five 10,000 TEU vessels. The five vessels ordered are scheduled for successive deployment from February of 2010 on Hanjin's trans-Pacific trade and expected to provide better customer service and rationalize the company's fleet operation.

The order of super-sized containerships is in line with Hanjin's mid-to-long-term strategy to lead the global shipping market increasingly dominated by large vessels.

Hanjin Shipping has committed itself to better service by enlarging its container fleet. A total of eight owned 6,500TEU vessels were ordered in 2003 through 2004 and started to be deployed on the Asia-Europe trade from the second half of 2006. And large 8,000TEU containerships began to be deployed successively on the trans-Pacific trade from the second half of 2005.

Currently operating 80 containerships on 60 lanes worldwide, Hanjin Shipping has and will continue to expand and rationalize its fleet and strengthen ties with the CKYH Alliance. Furthermore, the Korea's largest ocean carrier will remain committed to change and innovation as it struggles to become "the premier total logistics company most trusted by customers worldwide."