Orient Overseas Container Line (OOCL) has emerged as the charterer of six neo-panamax boxship newbuildings ordered by tonnage provider Seaspan Corp.
The liner operator will take the 13,580-teu ships for 15 years in a deal valued at around CNY 11.2bn ($1.57bn), according to a statement to the Hong Kong Stock Exchange.
Two vessels will be delivered around the fourth quarter of 2026, two in early 2027 and the last two in early 2028.
Orient Overseas (International), the parent of OOCL, said the charters will steadily increase the group’s fleet capacity and consolidate its position in the container shipping business.
“By entering into the charterparties, the group can expand its fleet capacity with modern vessels as early as 2026, providing greater flexibility in fleet planning and operations under various economic conditions,” it said.
Emerging markets
Hong Kong-based OOCL, which is part of the China Cosco Shipping empire, intends to deploy the vessels in emerging markets.
TradeWinds reported at the weekend that Seaspan Corp had signed a deal for six boxships at a yard under China State Shipbuilding Corp (CSSC)’s control, Shanghai-based Hudong-Zhonghua Shipbuilding.
News that Seaspan was planning to order the newbuildings was first reported in TradeWinds in May.
At that time, the company was said to be in discussion with Hudong-Zhonghua for LNG dual-fuel ships. They were expected to be ordered against charter contracts from Japanese-owned liner giant Ocean Network Express (ONE).
ONE owns around 28% of Seaspan, with 43% held by investment firm Fairfax Financial.
CSSC said the conventionally powered sextet will be fitted with scrubbers and energy-saving devices.
The price has not been disclosed but is believed to be more than $150m each.
China’s ICBC Financial Leasing is said to be financing the ships.
OOCL has been busy chartering vessels in all sizes.
This week, it locked into three-year charters three 2,800-teu container ships from US-listed shipowner Euroseas, which has fixed two newbuildings and a third recently delivered sister ship at rates of $32,000 per day.
They are the Symeon P and Dear Panel, which are slated for delivery in January from HD Hyundai Mipo in South Korea, and the Tender Soul (built 2024).
