- OOCL orders five ships each costing $155.68 million with normal capacity 23,000teu boxships.
- OOCL is increasing the proportion of the ships it owns in the core fleet.
- Vessels leased under long-term charters will be returned to the owners.
OOCL has signed contracts with shipyards Nantong COSCO KHI Ship Engineering Co., Ltd. and Dalian COSCO KHI Ship Engineering Co. Ltd. for five new container vessels, reports Ship Insight.
About the contract
Hong Kong-based container ship operator OOCL has signed newbuilding contracts with shipyards Nantong COSCO KHI Ship Engineering Co., Ltd. (NACKS) and Dalian COSCO KHI Ship Engineering Co. Ltd. (DACKS) for five new container vessels, each costing $155.68 million and with a nominal capacity of 23,000teu.
The vessels are expected to be delivered in 2023.
Fuel-efficient vessels
- OOCL is working on its ongoing program to introduce large, modern, and fuel-efficient vessels.
- This is to strengthen its fleet competitiveness as well as fleet rebalancing.
- OOCL is increasing the proportion of the ships it owns in the core fleet with this contract for 5 newbuildings.
- The vessels leased under long-term charters will be returned to the owners.
OOCL Fleet expansion
- OOCL only has six G-Class mega-vessels, each with a capacity of approximately 21,000teu.
- These vessels were ordered in March 2015, as the first step in OOCL’s expansion into this class of mega vessels for the Asia-Europe trade.
- The original plan at that time was to have ordered a second batch of five to six mega vessels.
- This plan was delayed due to market conditions in 2016.
- 2017-2018 focus was on the execution of the sale of the OOIL group to COSCO Shipping Holdings.
Second step in expansion
This new order for 23,000teu vessels is the long-awaited second step, and is consistent with the company’s strategic plan for further growth.
Independent loop
OOCL says it will have the potential to independently form a complete loop in the Asia-Europe trade, and strengthen OOCL’s overall competitive position in the market.
Vessel disposal plan
Balancing this expansion, over the next five years OOCL plans to return or dispose of 13 vessels from its fleet, a total of around 76,000teu, after successful long-term service in our group.
Reduced carbon emissions
These new vessels will help bring economies of scale to OOCL’s unit cost structure and enable the company to continue to play an influential role in offering more competitive and best-in-class services to customers.
OOCL said that the latest engine technology and other state-of-the-art equipment will be used to achieve greater operational efficiency and reduce carbon emissions.
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Source: Ship Insight
