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OOCL ORDERS MORE LARGE CONTAINER VESSELS

OOCL ORDERS MORE LARGE CONTAINER VESSELS

Friday, September 3, 2021 

Hong-Kong based Orient Overseas International Ltd (OOIL), parent of Orient Overseas Container Lines (OOCL) and part of the Chinese COSCO group, has placed orders for 10 new 16,000 TEU container ships.

The orders, said to be worth about US$1.58bn in total, are divided between affiliated shipbuilders Dalian Cosco KHI Ship Engineering (DACKS) and Nantong Cosco KHI Ship Engineering (NACKS), both of the yards being joint ventures between Cosco and Kawasaki Heavy Industries of Japan, with the vessels scheduled for delivery in 2024/2025. The same yards are building 12 container ships, each of 23,000 TEU, for OOIL, which were ontracted in 2020 for delivery in 2022/2023.

The new contracts are thought to be driven by a rise in freight rates arising from various supply chain disruptions. Few details of the new vessels have emerged, but they are said to be equipped with energy-saving and emission-reduction technologies, which will generate cost as well as environmental benefits.

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