Following the Board’s decision to commission a new build vessel to service the emerging market for ultra-large transports, Dockwise has appointed Hyundai Heavy Industries (HHI) of Korea as its ship building yard. HHI is scheduled to deliver the vessel during the last quarter of 2012, following sea trials, when it is intended to undertake its initial commercial voyage.
The new vessel has been categorized a “Type 0” (T-0) to reflect its exceptional size. Hitherto, the largest class of vessel has been Type 1 with cargo capabilities between 41,000 and 73,000 tons and of which Dockwise, as only provider in the market, already has two in service. With an overall deck size of 275 x 70 meters, and a revolutionary bowless design, the new vessel will have a carrying capacity of more than 110,000 tons. It will be the first of its kind in service in the maritime transport industry.
Specification Subject to Further Engineering
The specification of the T-0 is subject to further detailed design engineering, as Dockwise consults with clients and HHI offshore division engaged in fabricating the next generation of modular units. HHI’s flexibility in new build design, together with its track record of on-schedule delivery and budget discipline, were key deciding factors in the award of the contract.
USD 240 Million
The total cost of the vessel including all project and design costs, is expected to be approximately USD 240 million, with installments of approximately 45% in 2011 and 55% in 2012. The investment is fully financed by a rights issue and revolver debt facility Dockwise completed end 2010.
