SH advises on 'world's biggest ever ship order'
1 March 2011
Stephenson Harwood's Shipbuilding Group has advised one of the world's largest shipbuilders on the negotiation of contracts for a project described by Lloyds List as the "World's Biggest Ever Ship Order".
The Project concerns an order for 10 of the biggest container ships ever built, at a reported price of USD$1.9 billion, with options for 20 more vessels of the same specification.
Each vessel will be capable of carrying 18,000TEU (the standard container size) which is well in excess of the largest current vessels which carry 13,000TEU. The vessels are also lauded for their leading edge technology, providing economies of scale, energy efficiency and environmental improvement - earning the name "Triple-E Class".
Stephenson Harwood has advised this shipyard on a number of similar major projects, including the high profile Qatargas/Rasgas Projects for multiple large size LNG vessels. Stephenson Harwood has a leading reputation acting for major Korean shipyards, and will host the annual Shipbuilding Conference in Busan, which all the leading Korean Shipyards attend.
The container ship project was led by Stuart Beadnall, partner in the Shipbuilding and Offshore Group, assisted by senior associate Vaughan Williams, partner Eifion Morris and senior associate Rob Jacob of the Intellectual Property Group.