Hanjin charters five 3,400-TEU vessels
Hanjin Shipping on Friday said it has signed a deal with Greek ship owner Danaos Shipping Co. to charter five new 3,400-TEU container vessels.
The vessels will be built by Hanjin Heavy Industries, and the lease term is 13 years. In a statement, Hanjin said the chartering arrangement was atypical in that the carrier sought out the chartering company, rather than the other way around.
The ships are scheduled for delivery from late 2009, and are expected to be deployed on Hanjin's Mediterranean and South America routes. The carrier said it expects the ships to help boost profitability by reducing operation costs.
Hanjin operates about 90 container vessels on 60 routes worldwide.
