Hanjin accepts 4 container vessels worth $250 million

Hanjin Heavy Industries (HHI) announced on Feb. 6 that it received orders for four 5,750 TEU sized container vessels, worth $250 million, two from Conti Reederei Management GmbH, and the other two from Gesellschaft fur Konzeption und Betreuung∼mbH (GEBAB), both German shipping firms.
These four container vessels will be up-to-date models, 279 meters long, 40 meters wide, and 24 meters deep, serving a speed of 26.3 knots. The vessels are scheduled for delivery to each company by 2003. An HHI source said that it has kept an ongoing relationship with Contship, having completed seven 5,600 TEU container vessel by the end of last year, and currently has two 6,250 TEU vessels under way.

HHI also revealed that this is the first order of the year, constituting about 30 percent of total planned orders ($800 million), indicating a bright future.
HHI retained two and a half years more work, amounting to 31 units vessel totaling 1.36 million GT worth $1.4 billion.