Hapag-Lloyd receives 15,000-TEU box ship, last of 17 ordered by UASC

HAPAG-LLOYD has received the 15,000-TEU Al Emily from the Hyundai Samoa yard. The containership is the last in a series of 17 new builds, comprising 11 ships of 15,000 TEU and six of 19,900 TEU, ordered by UASC from the shipyard in 2013.

The vessel delivery follows the completion of the merger between Hapag-Lloyd and UASC in late May, creating the fifth largest shipping line in the world with a fleet of 219 containerships for a total capacity of 1.6 million TEU.

"Our fleet, one of the youngest and most modern in the industry with an average age of just 7.1 years, is now complete," Lloyd-Lloyd COO Anthony Firming was quoted as saying in a report by Colchester's Sea trade Maritime News.

"We have no plans to order any more new builds in the foreseeable future." said Mr Firming,

Like predecessor Affix delivered in July, Al Amelia will be deployed on THE Alliance's FE4 service that plies between Asia and northern Europe.

With its fleet expansion complete, Hapag-Lloyd will now carry out the capital increase agreed as part of the UASC merger. Some 11.7 million new shares with a subscription price of EUR30 (US$35) will be issued, underwritten by primary shareholders CSAV Germany Container Holding GmbH, Kuehne Maritime GmbH, Qatar Holding Germany GmbH and the Public Investment Fund of Saudi Arabia.

The expected capital of EUR352 million (US$414 million) raised will mainly be used to repay debt as well as for general corporate purposes.

"Following the successful merger with UASC, we will use the capital increase to strengthen our capital structure and to use the proceeds to reduce the leverage of the company,?said Hapag-Lloyd CEO Rolf Habben Jansen.

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