The South Korean yard has described the move as a “rumour in themarket.”

“Whatever has been circulated by brokers is unfounded,” an official at the yard said.

The comments come after reports Hanjin is mulling a project to build ship of over 5,000-teu to provide work for its Subic Bay facility in thePhilippines.

Brokers have suggested the plan would be to charter out the containerships for 10 to 12 years.