(MENAFN) Danish shipping giant A.P. Moeller-Maersk is close to ordering 10 mega container ships despite freight rates are being under pressure from overcapacity, Arab News reported.
The order, worth more than USD1.5 billion, to South Korea's Daewoo "will be announced soon and deliveries will start in 2017," the Wall Street Journal said, citing people familiar with the matter.
The ships, each capable of carrying more than 18,000 containers, would be organized on routes between Europe and Asia. Maersk Line, the group's shipping unit, managed to outperform the market despite overcapacity.
The world's largest container transporter said in February it had minimized "the impact of the low and volatile freight rate environment" through "active capacity management."
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