News / Insurers grow twitchy as containerships get bigger and cargo more valuable

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With CMA CGM reportedly ready to sign a letter-of-intent for nine ultra-large container vessels (ULCVs) of 22,000 teu, insurers are becoming increasingly concerned that their exposure may be too concentrated.

At a conference in Seoul, South Korea, this week, shipbuilder Hyundai Heavy Industries (HHI) revealed it was in competition with a Chinese yard for the order from the French carrier.

So far CMA CGM has declined to comment, but has not denied the reports, something it has been quick to do in the past ...