Saturday, April 19, 2008

Evergreen mega boxships order stalls

TAIWANESE container giant Evergreen appears to have fallen foul of the credit squeeze amid reports that plans to deploy a series of 12,400 teu ships are coming apart. Brokers believe a shipbuilding order by Greece’s Niki Group on the back of a charter deal to Evergreen has been cancelled, with the yard berths now back on the market.

Another major containership owner, Claus-Peter Offen, is believed to have reconfigured a massive order for 12,600 teu vessels placed with Daewoo Shipbuilding and Marine Engineering. Four of the 18 ships of that size that Mr Offen had originally specified have been downgraded to 7,000 teu units, according to unconfirmed reports, with the financial balance made up by an additional pair of capesize bulkers.

Now, though, brokers are hearing that the order has run into difficulty because of the problems of organising the necessary finance. Evergreen Marine said in February that an agreement in principle had been signed with Niki Group for the long-term charter of eight 12,400 teu vessels that would be delivered in 2011.

Source: Lloyds

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