Global economic recovery, coupled with the Panama Canal widening project, are boosting the demand for large vessels

Gianluigi Aponte's Mediterranean Shipping Company (MSC) intends to expand its fleet size by adopting a series of 11000 TEU vessels. According to industry sources, this liner company can take up to 10 new vessels for North and South America routes. To this end, it has directly ordered four such vessels to Hanjin Heavy Industries’ shipyard located in Subic Bay, Philippines. It is reported that the two sides have signed a letter of intent, which does not include shipping options. But the shipyard officials refused confidentiality provisions to comment these projects.

It is understood that the cost of payment for the shipping the Mediterranean is very high, reaching $ 80 million per vessel, scheduled for delivery in 2017. A market observer said that the current industry demand for 10,000 to 14,000 TEU vessels are constantly warming. "They (the shipping company) intends to array the shipping of this size in the routes between the east and west coasts of Asia and the United States, or for North and South America routes". "In view of that the global economic recovery is expected, and of the Panama Canal widening project, the market demand for large ships will gradually increasing”. The source also said that since the Mediterranean Shipping will only customized-manufacture four ships, then the other six could come from the rental market. Meanwhile, it is reported that South Korean Hanjin and Hyundai Merchant Marine also interest in "to absorb" 10000 TEU vessels. A source said, "They are doing internal discussions to determine whether need to customized-manufacture some of these sized vessels". "For a long time, they’ve not ordered any new vessel, but are keen to have some environmentally friendly boat itself".