China Shipping confirms order for 8,530-TEU ships

China Shipping confirms order for 8,530-TEU ships    China Shipping Container Lines confirmed it has ordered four 8,530-TEU containerships from the Hudong-Zhonghua shipyard, based in China.
   The Shanghai-based carrier also has an option to buy a fifth 8,530-TEU ship from the yard, which is part of China Shipbuilding (Group) Co.
   China Shipping Container Lines will pay $372 million for the first four vessels ($93 million per ship). The first vessel will be delivered in October 2007 and the other three during 2008.
   The vessels will reportedly have a length of 334 meters (1,096 feet), a width of 42.8 meters (140 feet) and a speed of 25 knots.
   The orders are significant because the ships will be the largest built by a Chinese shipyard. This could intensify the competition between Chinese yards and South Korean shipbuilders, who are dominating the container shipping sector for very large vessels.