South Korea's Hyundai Heavy Industries is reportedly in talks with Taiwan's Evergreen and shipowner partner to build ten 14,000-teu giant ships.
As Evergreen hammers out the final terms with the shipyard and investor from which it will charter the ships, the container line may secure a huge competitive advantage over rivals that ordered new tonnage earlier.
After months of negotiations with shipyards and shipowners, the shipping line is thought to be weeks away from signing a long-term charter contract with Korea Development Bank subsidiary Korea Infrastructure Investments Asset Management Co for 10 units.
While KIAMCO would raise the finance, Hyundai Merchant Marine would provide the technical expertise and manage the ships, which are expected to be built by Hyundai Heavy Industries.
The price agreed for the vessels is said to be less than $115m apiece.
The ships on the drawing board will typically burn around 175 tonnes of fuel a day, according to industry sources, far lower than vessels of similar capacity ordered prior to the 2009 market collapse that burn around 245 tonnes.