China Shipping orders five new containerships

China Shipping has signed an agreement to order five new containerships from Hudong Zhonghua Shipyard in Shanghai, Xinhua News Agency reported.

The 263-metre vessels have a beam of 32 metres and a maximum speed of 24.2 knots. They have also have a capacity of 4,250 TEU. Three of the ships will be ready in 2005.

China Shipping already has on order a number of other container vessels ranging from 4,120 TEU to 9,600 TEU.

The company now operates more than 100 vessels, with a total capacity exceeding 200,000 TEU. It is expected to handle 3.4 million TEU in 2003, of which 1.37 million will be in Shanghai alone.