Hong Kong’s Orient Overseas Container Line (OOCL) has entered into shipbuilding contracts with two yards belonging to parent, Cosco, for the construction of seven 23,000 teu mega containerships.
Three of the vessels will be built at Nantong Cosco KHI Ship Engineering (NACKS) and the other four at Dalian Cosco KHI Ship Engineering (DACKS). The total price of the seven ships is around $1.1bn and delivery is scheduled in 2024. The two yards are controlled by Cosco and Kawasaki Heavy Industries.
The order adds to the company’s order of a total of five 23,000 teu boxships at the two yards in March this year.
OOCL said the new orders are part of the group’s long term strategic development and growth plan to build and deploy mega-sized vessels that bring optimal fleet structure and capacity as well as economy of scale to the group.
OOCL was taken over by Cosco in 2018, and planned to grow its fleet by nearly 50% to ensure it crosses the 1m teu mark. The company’s current fleet hovers at around 700,000 teu.