In a move that is intended to coincide with the on-going Panama Canal expansion, container line Hapag-Lloyd has ordered five 10,500 TEU ships, which are expected to be delivered between October 2016 and May 2017, according to gCaptain.
In a previous article published by PTI, it was reported that a number of US ports are also preparing for the Panama Canal’s expansion, with some spending billions on new infrastructure and channel developments.
Anthony J. Firmin, Chief Operating Officer at Hapag-Lloyd, said: “This order for five vessels underlines Hapag-Lloyd’s leading role in the Latin American trade. Following our successful merger with CSAV, we are one of the market leaders in this attractive trade and offer our customers a variety of excellent connections to and from South America.”
Hapag-Lloyd recently dropped its call at the Port of Portland, which resulted in the port losing around 80% of its business.
The shipping line has completed its merger with container line CSAV, which is expected to bring annual savings of around US$300m.