MSC to renew vessel with Korean mega boxships

Mediterranean Shipping Company (MSC) has signed shipbuilding contracts with South Korean yard Daewoo Shipbuilding & Marine Engineering (DSME) for the construction of five 23,000 teu mega boxships for around $762m in total.

The latest order is an option exercised by MSC as part of a 11-ship order made by the company back in September 2017.

MSC predicted a significant number of 13,000 teu and 14,000 teu vessels will come off-hire in the coming years and the new order is expected to effectively replace this fleet.

MSC has already taken delivery of two 23,000 teu ships from DSME this year, and delivery of these latest ships ordered is expected in 2021.