Freight News, Sea

OOCL to buy five mega ships

[ March 13, 2020   //   ]

OOCL has signed contracts with two Chinese for five new 23,000teu container vessels due to be delivered from 2023. OOCL currently has six G-Class mega-vessels of 21,000teu, ordered in March 2015. The original plan was for a second batch of five to six mega vessels but this was cancelled due to poor market conditions and the sale of OOCL’s parent company, OOIL group to Cosco Shipping Holdings. The new tonnage would allow OOCL to independently form a complete loop in the Asia-Europe trade although it also plans to return or dispose of 13 vessels from its fleet, totalling around 76,000teu, over the next five years.