United States

Maersk Line deploys first of eleven 2nd generation mega-ships

Tuesday, 2 May 2017 02:00am EDT 

May 2 (Reuters) - A.P. Moller-Maersk ::Madrid Maersk, a 20,568 Twenty-Foot Equivalent Unit (TEU) container vessel and the first 2nd generation Triple-E class, called the Port of Tianjin in China as the first port on its maiden voyage.Madrid Maersk is the first in a series of eleven 2nd generation Triple-E vessels and the first of the 27 vessels Maersk Line ordered in 2015 to enter service.The global container shipping industry has been grappling with low freight rates and an oversupply of vessels."Maersk Line will take delivery of the vessels until end of 2018 and they will replace older and less efficient tonnage".Maersk Line has not taken delivery of own new-buildings since July 2015."To stay competitive and achieve lowest cost, Maersk Line will continue to manage fleet capacity tightly. For example, Maersk Line has a relatively high number of vessels on short term charters".In the first quarter of 2017, Maersk Line recycled seven Panamax vessels.