CHINA's Cosco Shipping Holdings has announced that subsidiary Hong Kong's OOIL has entered into a new shipbuilding contracts with domestic yards for the construction of ten 16,000=TEU ships at a total cost of US$1.576 billion.
The vessels will be built by Dalian Cosco KHI Ship Engineering and Nantong Cosco KHI Ship Engineering, and are expected to be delivered between the fourth quarter of 2024 and the fourth quarter of 2025, reports Colchester's Seatrade Maritime News.
The transaction is in line with the 14th Five Year Plan of the OOIL Group, which could increase the fleet capacity of OOIL and consolidate its position in the first echelon of the industry, said Cosco Shipping Holdings.
The new vessels will be equipped with energy saving and emission reduction technologies, which will generate cost advantages as well as help in environmental protection.
OOIL will also benefit from the optimisation of its fleet structure and the reduction of its reliance on the vessel charter market.
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