LLOYD TRIESTINO TO TAKE DELIVERY OF FIFTH NEW SHIP

LLOYD TRIESTINO TO TAKE DELIVERY OF FIFTH NEW SHIP    The Italian line Lloyd Triestino di Navigazione SpA will take delivery of a fifth 2,727-TEU vessel in mid August.
   The LT Greet is the fifth of the G-type series of ships. The company took delivery of the fourth, the LT Grace, in July. The first of the series was delivered in July 1999. All five vessels are to be deployed on the company's CEM Far East/North Europe service, which incorporates a Mediterranean hub call at Gioia Tauro, alongside three vessels built for Lloyd Triestino from 1989 to 1993 and two vessels chartered in.
   The vessels are the first ships newly built by the company since 1993.
      The shipping line will also take delivery of three new 5,364-TEU post-Panamax vessels, now under construction in Japan. The first will be delivered at Mitsubishi's Kobe shipyard in November.
   “We are concentrating on upgrading our fleet to meet the requirements of our principal services which link Europe and the Mediterranean with the Far East,” said Pier Luigi Maneschi, the company's chairman.
   “Initially we have bought second-hand tonnage as this was the quickest way of restructuring our fleet. We have also sold older, smaller ships which did not fit in with our future plans,” he said. “Now though, we are looking to the newbuilding sector as we need modern, efficient tonnage, especially to develop or new services to North America.”