Liner operator Ocean Network Express (ONE) has joined the shipowning league with orders for 10 conventional-fuel neo-panamax boxship newbuildings.

The Singapore-based container shipping company confirmed that it has contracted Japan’s Nihon Shipyard and South Korea’s Hyundai Heavy Industries (HHI) to build five vessels each.

News of ONE ordering the neo-panamax boxship newbuildings at the two shipyards was first reported in TradeWinds in March.

ONE said the newbuildings inked at Nihon and HHI will have a nominal capacity of more than 13,700 teu and are slated to be delivered in 2025.

The liner carrier did not disclose the shipbuilding price but brokers suggested that they will cost about $160m each.

“This investment embodies ONE’s mid-term strategy announced in March, to safeguard a sustainable supply chain for the future and underscore ONE’s green strategy and decarbonization plan,” said ONE.

“The vessels are designed with the highest efficiency standards as well as a variety of cutting-edge technology to reduce navigational impacts to the environment and are planned for the ready notation or Approval in Principle of ammonia and methanol as fuel, carbon capture and storage.”

ONE added that the newbuildings will enable the company to broaden the exploration of long-term alternative fuels and decarbonisation technologies in the future.

The company said it is determined to become a leader in maritime decarbonisation and remains fully committed to achieving sustainable marine transportation by achieving carbon neutrality by 2050.

“The company will continue to make necessary investments in greener assets and technologies, whilst engaging in open collaboration with industry stakeholders,” said ONE.

The Asian liner outfit is also due to take delivery of 10 scrubber-fitted 7,000-teu newbuildings in 2024 that it has chartered long-term from Seaspan Corp.

China’s Shanghai Waigaoqiao Shipbuilding is constructing the vessels.

ONE was formed in 2017 with the merger of the Japanese liner operations of K Line, Mitsui OSK Lines and NYK Line.

It is a partner in THE Alliance, alongside Germany’s Hapag-Lloyd, Taiwan’s Yang Ming Marine Transport and South Korea’s HMM.

ONE is the sixth-largest liner company, with a capacity of 1,528,387ateu, according to Alphaliner. The company currently charters all its container ships.