COSCO to deploy 7,500 TEU vessel in transpacific routes in end-July

COSCO Container Lines held a naming ceremony for the 7,500 TEU container ship 'COSCO Long Beach' at a Hyundai Heavy Industries shipyard in Ulsan, June 11.
COSCO Long Beach is the first of 5 vessels ordered from HHI by Nordcapital in December, 2002. Nordcapital is one of Germany's leading independent issuing houses, specializing in issuing shares in shipping funds, private equity funds and real estate funds. It was founded by Erck Rickmers, the company president, in 1992, he also established a shipping company, 'E.R. Schiffahrt' in 1998.
The COSCO Group chartered this ship from 'E.R. Schiffahrt' with a 10-year fixed term.
About 110 people attended the ceremony, with German bankers, transportation company officials, members of the German press, the president and CEO of the COSCO Group, captain Wei Jiafu, the president of Nordcapital group, Erck Rickmers, and the president and CEO of HHI, Yu Kwan Hong.
The new vessel was named by the wife of Captain Wei Jiafu. She said in her address, "I am proud to be naming such a large container ship for the first time, and I wish the shipping company and the charterer every success and the ship a hand's breadth of water under its keel at all times and good luck to all who sail in her."
Mr. Wei said, "The 'COSCO Long Beach' is the largest vessel that we have operated so far, as is the case for the ship's owners, the Nordcapital group and its shipping company, E.R. Schiffahrt," and added, "We will charter super post panamax class series that are 8.200 TEU from 'E.R. Schiffahrt' by 2006."
The ship will enter service at the end of July after completing some interior upgrades. It will be deployed in the main COSCO transpacific routes.
Meanwhile, the company will also deploy these vessels in China~North America services when the Nordcapital group deliveries the other 4 vessels from HHI.
Mr. Wei said at the ceremony, "The Chinese economy is still growing. This will last for some time."
He explained that the Chinese economy increased over 8% (GDP) in April and May despite popular fears of it cooling down. COSCO expects that the economy will grow well into the future.
The COSCO Long Beach is driven by the largest main engine in the world. The engine put out more than 93,000 bhp, enabling the ship to sail at a service speed of over 25 knots. It is 300 meters long, 42.8 meters wide, has a draught of 14.5 meters, a deadweight capacity of 92,900 dwt, and space for 7,500 TEU.