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

|By:, SA News Editor

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.