China Cosco Holdings is ordering 10 Triple-E megaships in a bid to dominate the major shipping routes, according to the Wall Street Journal. Each vessel is capable of holding 19,000 containers.
According to the report, the vessels are being ordered from a Chinese shipping yard at a total cost of US$1.4bn. The ships will be deployed in the Asia-to-Europe trade loop.
The news follows several 20,000 TEU containership orders placed by shipping majors recently. Among those MOL has ordered six 20,600 teu vessels, while CMA CGM has ordered three of the same size from Hanjin Heavy Industries.