Daewoo Shipbuilding wins $1.8 billion Maersk contract

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Daewoo Shipbuilding wins $1.8 billion Maersk contract

Daewoo Shipbuilding & Marine Engineering announced Wednesday it signed a $1.8 billion contract to provide 11 19,360 TEU (20-foot equivalent) container vessels to Maersk Line A/S of Denmark, the largest shipping company in the world.

The vessels, which will be 400 meters long (1,312 feet), 58.6 meters wide and 16.5 meters deep, will be built at the Okpo shipyard in Geoje, south Gyeongsang, and delivered to the Maersk by 2018.

Maersk Group has been doing business with Daewoo Shipbuilding since 2003, when the shipper ordered twenty 18,000 TEU vessels.

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