Maersk’s Søren Toft Finalises $1bn Contract


Søren Toft, COO of Maersk Line has finalised the recent newbuild order placed with HHI recently for nine 14,000 TEU ships. The agreement includes an option for up to eight additional vessels, all to potentially be delivered in 2017.

The contract has a value of US$1.1 billion and was signed by Mr. Sam H. Ka, Chief Operating Officer (COO) of HHI and Mr., COO of Maersk Line, at a ceremony at Maersk Line’s headquarters in Copenhagen.

The order follows the eleven 19,630 TEU Triple-E vessels announced earlier this year as part of Maersk Line’s $15 billion investment in new-buildings, retrofitting, containers and other equipment.

Søren Toft said: “The vessels will be designed to operate in and perform efficiently across many trades and not just designed for one specific trade. They will help us stay competitive and make our fleet more flexible and efficient.”

Designing vessels with a flexible operational profile is a first for Maersk Line. By moving away from hulls designed with a certain speed and draft in mind, Maersk Line is strengthening its fleet with vessels which can be deployed on East-West or North-South trades where requirements differ, with no impact on fuel consumption.

Maersk is reducing its impact on the environment by introducing environmentally friendly containers, which will reduce carbon emissions by 60% each.

Since 2002, HHI has delivered more than 50 container vessels to Maersk Line, including 22 WAFMAX vessels (4,500 TEU), which were delivered in 2011-13.

Søren Toft concluded: “We have a long and good relationship with HHI. The quality of the vessels has always been up to high standards and we look forward to receiving this new batch.”

Fact File: Maersk Line is the world’s largest container shipping company, known for reliable, flexible and eco-efficient services. It provides ocean transportation in all parts of the world and serves its customers through 374 offices in 116 countries. Maersk Line is part of the Maersk Group, headquartered in Copenhagen, Denmark. The Group employs 89,207 people in around 130 countries. Its 2014 revenue was US$48 billion.

As of May, 2015, Maersk owns 273 ships with a total of 1.7 million TEU capacity and 335 chartered ships at 1.2 million TEU capacity.

Maersk’s order book currently consists of:

  • 7 x Baltic Feeder vessels for delivery in 2017
  • 11 x 19K vessels for delivery in 2017-18
  • 11 x 9.5-10K chartered vessels 2015-16
  • 9 x 14K vessels for delivery in 2017

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