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OOCL Orders New Ultra Large Vessels

Hong Kong-based container and logistics company Orient Overseas Container Line Limited (OOCL) has ordered five 23,000 TEU boxships from China's COSCO Shipping yards. The deal is worth USD 778.4 million.
The vessels will be constructed at Nantong COSCO KHI Ship Engineering (NACKS) and at Dalian COSCO KHI Ship Engineering (DACKS). The delivery is scheduled for 2023.
Orient Overseas (International) Limited, the parent company of OOCL, hopes to get financing for 60% of the required funds.
“The size of the vessels together with the current vessels of smaller size would complete the fleet size of the group and would bring economy of scale,” OOIL stated.
COSCO Shipping Holdings became a controlling shareholder of OOCL in 2018.
 

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