Seeking Alpha

Scorpio, China's BoCom order five Triple E giant container vessels

  • Tanker and bulk operator Scorpio Group (STNG, SALT) and China's Bank of Communications have ordered five giant Triple E container vessels that will be leased to Switzerland's Mediterranean Shipping, WSJ reports.
  • The leases, which will last at least 15 years, are part of MSC's plan to join forces with Denmark's Maersk Line (OTC:AMKAF, OTCPK:AMKBY) in an alliance set to go into force early next year and expected to control ~30% of all cargo moved on the world's busiest trade routes.
  • Scorpio placed an order for three Triple E's with South Korea's Samsung Heavy Industries, while BoCom ordered two from Daewoo Shipbuilding.
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