COSCO-owned OOCL orders mega-ship fleet

Orient Overseas Container Line (OOCL) has ordered five new 23,000 TEU container vessels from two of COSCO’s shipbuilding yards.

In a statement, Orient Overseas International Limited (OOIL), OOCL’s parent company, said the fleet will cost approximately $778.4 million.

“The size of the vessels together with the current vessels of smaller size would complete the fleet size of the Group,” OOIL said.

“The deployment will strengthen the market position of the Group and enhance the competitiveness of the Group.”

Delivery will begin in the first quarter of 2023 and completed by the early part of the fourth quarter.

OOIL also said three of the vessels will be built at Nanton COSCO KHI Ship Engineering and the remaining two at Dalian COSCO KHI Ship Engineering, two subsidiaries of COSCO.

OOCL is part of the COSCO Group, which together comprise the third biggest container shipping group in the world by market share, behind A.P. Moeller-Maersk and MSC.

However, once all vessel orders are fulfilled, it will be overtaken by CMA CGM.

https://www.porttechnology.org/news/cosco-owned-oocl-orders-mega-ship-fleet/