Maersk Line orders 10 ‘Triple-E’ mega-ships

Maersk Line has signed a contract for 10 of the world’s largest, most efficient container vessels with an option to buy another 20. The vessels will have a capacity of 18,000 TEU and will be delivered from Korea’s DSME shipyard from 2013 to 2015.

The new, giant container vessels will be known as Triple-E, based on the three main purposes for their creation: Economy of scale, Energy efficiency and Environmentally improved.

At 400 metres long, 59 metres wide and 73 metres tall, the Triple-E will be the largest vessel of any type known to be in operation. Its 18,000 twenty-foot container capacity is a massive 16 % larger (2,500 TEU) than Emma Mærsk.  At a cost of USD 190 million per vessel — and therefore a contract value of USD 5.7 billion should the option for a further 20 be exercised — Maersk Line is buying the ships to position itself to profit from the 5–8 % growth in trade from Asia to Europe that the company expects, and to maintain its industry leading market share in the trade.

A new benchmark

The new vessels will not just set a new benchmark for size; in addition, they will ensure Maersk Line reaches its goals at the lowest possible cost, while producing the lowest possible amount of CO2 emissions — an astonishing 50% less CO2 per container moved than the industry average on the Asia–Europe trade.

 “One of the biggest challenges we face in the world today is how to meet the growing needs of a growing population and while minimising the impact that is going to have on our planet,” says Maersk Line CEO Eivind Kolding.

Maersk won’t repeat record profit in 2011

n2010 net profit 28.2 bln DKK vs avg forecast 27.7 bln

nCompany sees lower 2011 result than 2010

nSees 2011 cash flow from operations in line with profit

(Reuters) - Denmark’s A.P. Moller-Maersk will not repeat last year’s record profit in 2011 due to expected lower oil output combined with uncertainty about freight rates and oil prices.

The shipping and oil group beat forecasts on the back of a container shipping recovery, swinging from its worst result on record in 2009, when the global economic crisis hit trade and shipping, to its best result ever in 2010.

Maersk, which owns the world’s biggest container shipping company Maersk Line and produces oil and gas mainly in the North Sea and Qatar, posted a net profit of 28.2 billion Danish crowns ($5.18 billion) for 2010 against a loss of 5.49 billion in 2009.

Last week’s results came two days after Maersk announced it would order 10 huge container ships from Korea’s Daewoo Shipbuilding & Marine Engineering for $1.9 billion and take options on 20 more vessels of similar size to take advantage of growth on Asia-Europe routes.

They also followed improved results from container shipping rivals including Singapore’s Neptune Orient Lines and Korea’s Hanjin Shipping.

Maersk’s profit beat a forecast of 27.7 billion crowns in a Reuters poll and was on the high side of its own November guidance for profit “in the order of $5 billion”.