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CONTSHIP PLANS ORDER OF 3 SHIPS OF 4,115-TEU

CONTSHIP PLANS ORDER OF 3 SHIPS OF 4,115-TEU

   Contship Containerlines said that it will order three 4,115-TEU containerships for its Australian liner trades.

   The ships will be constructed by Daewoo of Korea and delivered in 2002.

   The announcement marks a change of fleet policy for Contship, which has always chartered vessels in its 30-year history, preferring chartering than vessel ownership.

   The ships will be deployed in the Europe-Australasian trade, in which Contship operates several joint services with P&O Nedlloyd.

   The order follows shortly on P&O Nedlloyd’s announcement that it will operate seven new 4,100-TEU ships from 2002, under a charter agreement with German shipowner Reederei Claus Offen.

   Contship said that it is talking to P&O Nedlloyd and CMA CGM about reorganizing their joint services connecting Europe, Australasia and the U.S.

   Contship and CMA CGM currently run a Europe/U.S./Australasia/Europe round-the-world service.