Malaysia International Shipping Corporation (MISC) is in the market for new containerships, and has asked yards in South Korea and Japan to tender for the construction of four new 6,200 TEU post-panamax ships. The ships will be the largest ever built for MISC, and delivery is expected to take place between late 2002 and early 2003.
Based on those delivery dates, South Korean yards have emerged as front runners for the prestigious contract, valued at some US$280m at today’s newbuilding price levels. MISC's exposure in the container shipping marketplace has been limited to date, with the only involvement on the major East/West lanes coming from a pair of 4,400 TEU post-panamax vessels built by Hyundai in the mid-90s. MISC has however made it clear it wants to enter the transpacific trades, and it is assumed that the new tonnage will allow that to happen.