Maersk to buy 18 container ships from Hyundai

Danish shipping and oil group A.P. Moller-Maersk (MAERSKb.CO: Quote, Profile, Research) said on Tuesday it had signed a deal with Hyundai Heavy Industries (009540.KS: Quote, Profile, Research) for the delivery of 18 container vessels in 2011 and 2012.

In a statement Maersk, which operates the world's largest container shipping line, said the ships would each have a capacity of 4,500 TEU (twenty- foot equivalent units).

We are very happy with this order. These vessels are part of our fleet renewal and development programme, Maersk said.

The value of the order was not given.

Source: http://uk.reuters.com