Neptune Orient Lines today announced $1.54 billion of contracts for 10 new 14,000 20-equivalent unit ships, two 9,200 TEUs vessels and upgrades to 10 ships it ordered last year.
The Singapore-based ocean carrier said the investment in new, larger ships to be built in South Korea is aimed at reducing unit capacity and operating costs.
By the Numbers:
MSC Hikes Portutal-to-US Freight Rates
The 14,000 TEUs ships, to be deployed on Asia-Europe routes, will be built by Hyundai Samho Heavy Industries. The 9,200 TEUs vessels, likely to be employed on the transPacific trades, will be built by Daewoo Shipbuilding and Marine Engineering.
NOL is also upgrading 10-8,400 TEUS ships on order with Daewoo to 9,200 TEUs each. The enlarged ships will also employ new, more efficient design and technology.
The vessels are scheduled for delivery in 2013 and 2014.
The new ships are designed to meet future growth and replace older and smaller chartered vessels that will be returned to their owners, NOL said.
--Contact Bruce Barnard at email@example.com.