17OCT2019 - NEWS - MSC Adds To Big Ships With Latest $762m Order

Mediterranean Shipping Company (MSC) is poised to become one of the biggest owner-operators of ultra-large container ships with its latest vessel order. MSC is adding capacity even as container rates continue to slide.

MSC is linked to an order for five ships with 23,000 twenty-foot equivalent units (TEUs) in capacity, according to PR News Service.

The ships are being built at Korea's Daewoo Shipbuilding and Marine Engineering for a reported cost of $762 million, according to The Wall Street Journal. Delivery of the five vessels is expected to begin in the first quarter of 2021.