Danish shipper Moller-Maersk, the biggest container carrier in the world on Monday that it has signed a contract for a South Korean shipyard to build it 10 giant container ships over the next three years.
Earlier in Seoul, Daewoo Shipbuilding and Marine Engineering, the country’s second largest shipbuilder, said it would sign the contract for the ships, each with a capacity of 18,000 TEU (twenty-foot equivalent unit) containers.
“The new vessels will not just set a new benchmark for size; in addition, they will ensure Maersk Line reaches its goals at the lowest possible cost,” Moller-Maersk said in a statement.
The new container vessels, at 400m long, 59m wide and 73m tall, will be “the largest vessel of any type known to be in operation,” but emit half as much carbon dioxide as the industry average for Asia/Europe trade, the statement added.
“One of the biggest challenges we face in the world today is how to meet the growing needs of a growing population and while minimizing the impact that is going to have on our planet,” said Maersk Line chief executive Eivind Kolding.
Maersk Line has signed a contract for 10 of the world’s largest, most efficient container vessels with an option to buy another 20.
The vessels will have a capacity of 18,000 TEU and will be delivered from Korea’s DSME shipyard from 2013 to 2015.
France cannot afford to ignore the third credit-rating reduction in less than a year, French Minister of Finance Roland Lescure said. “Three agencies have downgraded us and we can’t ignore this cloud,” he told Franceinfo on Saturday, speaking just hours after S&P lowered his country’s credit rating to “A+” from “AA-” in an unscheduled move. “Fundamentally, it’s an additional cloud to a weather forecast that was already pretty gray. It’s a call for lucidity and responsibility,” he said, adding that this is “a call to be serious.” The credit assessor’s move means France has lost its double-A rating at two of the
AI BOOST: Although Taiwan’s reliance on Chinese rare earth elements is limited, it could face indirect impacts from supply issues and price volatility, an economist said DBS Bank Ltd (星展銀行) has sharply raised its forecast for Taiwan’s economic growth this year to 5.6 percent, citing stronger-than-expected exports and investment linked to artificial intelligence (AI), as it said that the current momentum could peak soon. The acceleration of the global AI race has fueled a surge in Taiwan’s AI-related capital spending and exports of information and communications technology (ICT) products, which have been key drivers of growth this year. “We have revised our GDP forecast for Taiwan upward to 5.6 percent from 4 percent, an upgrade that mainly reflects stronger-than-expected AI-related exports and investment in the third
Mercuries Life Insurance Co (三商美邦人壽) shares surged to a seven-month high this week after local media reported that E.Sun Financial Holding Co (玉山金控) had outbid CTBC Financial Holding Co (中信金控) in the financially strained insurer’s ongoing sale process. Shares of the mid-sized life insurer climbed 5.8 percent this week to NT$6.72, extending a nearly 18 percent rally over the past month, as investors bet on the likelihood of an impending takeover. The final round of bidding closed on Thursday, marking a critical step in the 32-year-old insurer’s search for a buyer after years of struggling to meet capital adequacy requirements. Local media reports
RARE EARTHS: The call between the US Treasury Secretary and his Chinese counterpart came as Washington sought to rally G7 partners in response to China’s export controls China and the US on Saturday agreed to conduct another round of trade negotiations in the coming week, as the world’s two biggest economies seek to avoid another damaging tit-for-tat tariff battle. Beijing last week announced sweeping controls on the critical rare earths industry, prompting US President Donald Trump to threaten 100 percent tariffs on imports from China in retaliation. Trump had also threatened to cancel his expected meeting with Chinese President Xi Jinping (習近平) in South Korea later this month on the sidelines of the APEC summit. In the latest indication of efforts to resolve their dispute, Chinese state media reported that