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OOCL contracts for five 23,000-TEUers from Cosco's Nantong yards

HONG KONG's Orient Overseas Container Line (OOCL), now a Cosco unit, has signed newbuilding contracts with shipyards Nantong Cosco KHI Ship Engineering (NACKS) and Dalian Cosco KHI Ship Engineering for five 23,000-TEU ships for US$155

17 March 2020 - 19:00

HONG KONG's Orient Overseas Container Line (OOCL), now a Cosco unit, has signed newbuilding contracts with shipyards Nantong Cosco KHI Ship Engineering (NACKS) and Dalian Cosco KHI Ship Engineering for five 23,000-TEU ships for US$155.6 million apiece with deliveries to start in 2023.

'These five new buildings are part of our ongoing programme to introduce large, modern and fuel-efficient vessels to further strengthen our fleet competitiveness, as well as fleet rebalancing by increasing the proportion of the ships we own in the core fleet, while a number of vessels leased under long-term charters will be returned to the owners,' said OOCL.



OOCL's current portfolio includes six G-Class mega-vessels, each with a nominal capacity of 21,000 TEU. Deployed on the Asia-Europe route, they were ordered in March 2015 to expand its range, noted London's Ship Technology.



'The original plan at that time was to have ordered a second batch of five to six mega vessels. However, this addition to the original order has never happened thus far, first because of the terrible market conditions of 2016, and then throughout 2017-2018 with the focus being on the execution of the sale of the OOIL group to Cosco Shipping Holdings,' said the company statement.



Over the next five years, OOCL plans to dispose of 13 vessels from its fleet with a combined capacity of 76,000 TEU.


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