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Maersk Line has exercised its option with Korea's Daewoo Shipbuilding & Marine Engineering Co., Ltd. to build an additional 10 Triple-E ships, the world's largest and most efficient container vessels.

The decision follows Maersk Line's order in February this year for 10 Triple-E vessels with two options - each for an additional 10 ships.

Commenting on the news, Eivind Kolding, CEO of Maersk Line, said: "I am very excited to have signed a contract with Daewoo for 10 more Triple-E ships. We now have twenty Triple-E on order. They underline our strong commitment to the Asia-Europe trade and fit well with our current ambitions and expectations for the future development of the trade. We believe the Triple-E ships with their record capacity and energy efficiency will enable us to deliver on the commercial and environmental expectations of our customers and also give us a significant competitive advantage in the market."

Maersk Line expects demand on the Asia to Europe trade to increase 5-8 percent per year during 2011-2015. By introducing the Triple-E vessels from 2013, Maersk Line says it will be able to meet the increasing demand as well as maintain its market share.

The first 10 vessels will be delivered 2013 and 2014; the second 10 vessels are scheduled for delivery in 2014 and 2015.

Called the ‘Triple-E' class for the three main purposes behind their creation - economy of scale, energy efficiency and environmentally improved - the ships set a new industry benchmark for size and fuel efficiency.

Four-hundred metres long, 59 metres wide and 73 metres high, the Triple-E is the largest vessel of any type on the water today. Its 18,000 TEU (twenty-foot container) capacity is 16 percent greater (2,500 containers) than today's largest container vessel, Emma Maersk.

The Triple-E will produce 20 percent less CO2 per container moved compared to Emma Maersk and 50 percent less than the industry average on the Asia-Europe trade lane. In addition, Maersk Line points out that it will consume approximately 35 percent less fuel per container than the 13,100 TEU vessels being delivered to other container shipping lines in the next few years, also for Asia-Europe service.

The deadline for exercising the last option for an additional 10 vessels is end of December 2011.

"At this point Maersk Line does not intend to exercise the option. However, Maersk Line will reserve its right to hold off on any final decision until the deadline," Maersk Line said in a statement.