German container shipping line Hapag-Lloyd has ordered five 10,500-TEU newbuildings from South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI) for its South American trades in anticipation of Panama Canal expansion next year.

Each ship will have space for 2,100 reefers to transport perishable fruit, vegetables and fish, the company said.

Delivery is scheduled to begin from November next year to also be in time for the 2017 Latin American reefer season.

Senior director of network and cooperations, Axel Luedeke, said: "We are one of the market leaders in South America. However, without the optimal ships, we wouldn't have any power in the market."

Including the seven 9,300-TEU newbuildings ordered by CSAV prior to its merger with Hapag-Lloyd - the last two of which will go into operation this summer - Hapag-Lloyd will have an optimal fleet for this important trade," Mr Luedeke explains. "We will therefore be able to offer customers a competitive product in the long term."