Page 35: of Maritime Reporter Magazine (October 2013)

www.marinelink.com 35Maersk & New Containership Economics ?101? Economics ?101?Biggest and best comes at a price, as the Þ rst 10 ships cost Maersk Line $190 million each . Raw materials comprise most of the cost with each vessel requiring 55,000 tons of steel. ?We have reduced the capacity by al- most 10% compared to last year and are running with a much higher utilization, up in the 90s, on average. That is very high and will have to fall to unrealisti-cally low levels before it will become a problem.? Maersk Line may be managing its ca-pacity, but the Danish carrier is not the only line introducing ultra large container ships. In fact, by the end of next year Maersk won?t even have the biggest box carriers in service. China Shipping Con-tainer Line has ordered Þ ve 18,400 TEU vessels, the Þ rst of which will be deliv- ered in the fourth quarter of 2014.This trend towards bigger ships will continue to grow, predicted analysts. Alphaliner expected 18% of the global ß eet to comprise ships capable of carry- ing 10,000 TEU and more by 2015, and Drewry warned that China Shipping?s de- cision to ?follow Maersk Line down the 18,000 TEU road? was likely to be fol- lowed by most of the other carriers.Mediterranean Shipping Co. is leading the way, but has decided to take the char- ter route. The world?s number two carrier will charter three 18,400 TEU ships or- dered by Hong Kong Asset Management for delivery from early 2015, and it will take another three 18,400-box boats on long-term bareboat charter from the Bank of China Financial Leasing, also from 2015.United Arab Shipping Co. has Þ ve 18,000 TEU vessels that will be deliv- ered from late 2014. China Shipping and UASC will use their vessels in a joint ser- vice.But biggest and best comes at a price, and the Þ rst 10 ships cost Maersk Line $190 million each. The carrier expects optimization and energy improvements MR #10 (34-41).indd 35MR #10 (34-41).indd 3510/2/2013 4:18:17 PM10/2/2013 4:18:17 PM