Canadian Manufacturing

Maersk launches US$15B investment plan, orders 7 new vessels

The seven ice-class container vessels were ordered from Chinese shipyard COSCO



COPENHAGEN—Maersk Line says it has ordered seven ice-class container vessels from Chinese shipyard COSCO as a first step in a $15 billion investment program.

The value of the order was not disclosed. Deliveries were expected in the second half of 2017.

The Copenhagen-based company said it needs new vessels to “grow with the market,” and expects to announce more orders this year.

The new ships will serve its fully-owned Seago Line in the Baltic and North Sea regions, including in icy conditions.

The world’s largest container company, Maersk Line is on a five-year program to add capacity to meet growing demand for container shipping, and to replace less efficient ships.

Maersk Line is part of shipping and oil group A.P. Moller-Maersk.

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