[P&O Nedlloyd Ordering Five New 5,000TEU Container Vessels]

In its ongoing endeavours to offer first class, fast and reliable ship
capacity and to achieve further cost savings, P&O Nedlloyd is pleased
to announce the order for five new post-Panamax container vessels, wi
th delivery to be completed by the end of 2000.
The new container vessels will replace current capacity, some of which
are to be scrapped. The new vessels will be deployed in the services
of The Grand Alliance.
Three of the five vessels will be built at the premises of Kvaerner in
Rostock, whilst the other two wil be built by Aker-MTW at its premise
s in Wismar.
The new building will be added to the P&O Nedlloyd fleet on basis of l
ong-term bare boat charter and will be owned and financed by third par
ties.
The vessels will have the following main specifications:
- total slots : 5,000 TEU
- reefer capacity : 500 boxes
- maximum : 25.8 knots
- length o.a. : 276m
- moulded breadth : 40m
Commenting on the order Tim Harris, Chief Executive Officer of P&O Ned
lloyd said “The order fits well in our replacement programme of addin
g new modern ships to our fleet and taking old vessels out of service.
The German shipyards offered high quality products against prices, wh
ich - in combination with the financing terms - are most attractive fo
r our company. The new ships will lead to substantial reductions in op
erating costs per TEU”