K Line orders five 14,000 TEU cargo ships

By Finance

Kawasaki Kisen Kaisha (K Line) has announced a new order of a 14,000-TEU quintet. The new boxships will be constructed at Imabari Shipbuilding with length of 365.9 metre, beam 51.2 metre and draft of 14 metre. The price of the container ships was not announced.

The Japanese shipping conglomerate placed the order following the trend in the industry - pursuing larger vessels for cost competitiveness. The company also believes the new quintet would improve the efficiency of its business.

The newbuildings are expected to be delivered from spring to summer 2018. They will be identical to five sister vessels ordered earlier. The first quintet is due to be delivered between spring to summer next year. It is expected that the Tokyo-based shipping company will invest over $942 million in its ten new vessels.

The newbuildings will increase the shipping capacity of K Line with a little more than 10 percent, the container fleet will be a little over 70 vessels.

Image: KLine