Hanjin orders new vessels for South America trades

Hanjin orders new vessels for South America trades Hanjin Shipping said Friday is has placed an order for charters of five new 3,400-TEU container vessels, the size it deploys in its South America services.
   Hanjin, which has served Florida customers involved in the South America trades with both direct Florida calls and intermodal service from Savannah, said it has signed a deal with Greek shipowner Danaos Shipping Co. to charter the vessels. The Korea-based carrier noted the chartering arrangement was atypical in that the carrier sought out the chartering company, rather than the other way around.
   Hanjin Heavy Industries will build the vessels, and the lease term is 13 years. The ships are scheduled for delivery from late 2009, and are expected to be deployed on both Hanjin's Mediterranean and South America routes. The carrier said it expects the ships to help boost profitability by reducing operation costs.
   Hanjin operates about 90 container vessels on 60 routes worldwide.