Maersk Line orders 9 container ships from Hyundai in $162 million deal

IndustriesAssociated Press

Danish shipping and oil group A.P. Moller-Maersk says it has ordered nine container ships from South Korean shipbuilder Hyundai with an option to buy eight more, in a deal worth 1.1 billion kroner ($162 million).

Soeren Toft, spokesman for the shipping unit Maersk line, said Wednesday that the 353-meter (1,165-foot) vessels would help the company remain competitive. Deliveries by Hyundai Heavy Industries were expected in 2017.

Continue Reading Below

The order was the third major purchase since Maersk Line ordered seven ice-class container vessels from China's COSCO in March and 11 container ships from South Korea's Daewoo Shipbuilding & Marine Engineering in June.

They are part of the Copenhagen-based group's $15 billion investment program to meet growing demand for shipping and to replace less efficient vessels.