OOCL signs $3bn boxship order

By Admin

02 May, 2025

In a significant step toward fleet expansion and sustainable shipping, Hong Kong-based Orient Overseas Container Line (OOCL) has announced a monumental investment exceeding $3 billion for the construction of 14 new methanol dual-fuel boxships. This bold move solidifies OOCL’s commitment to future-ready shipping and environmentally conscious operations.

Strategic Fleet Expansion

The newbuildings, each with a massive capacity of 18,500 TEU, will be constructed by two prominent Chinese shipyards:

• Dalian COSCO KHI Ship Engineering (DACKS) – entrusted with nine vessels
  
  

• Nantong COSCO KHI Ship Engineering (NACKS) – assigned the remaining five ships
  
  

Each ship is valued at $220 million, with deliveries scheduled between 2028 and late 2029. The vessels will be powered by methanol dual-fuel engines, showcasing OOCL’s direction toward cleaner energy solutions in line with global decarbonization efforts.

Boost to COSCO’s Global Ambitions

OOCL’s parent company, COSCO, significantly enhances its newbuilding pipeline through this order. With these additions, COSCO's pending fleet now increases from 19 vessels (352,000 TEU) to a total of 33 vessels (611,000 TEU), according to data from Alphaliner.

When considering the entire COSCO Group, which also has orders for the larger 24,000 TEU methanol dual-fuel series, the total orderbook now reaches 64 ships, amounting to 1.11 million TEU. This firmly places COSCO behind only two global giants:

• Mediterranean Shipping Company (MSC) – 2.13 million TEU
  
  

• CMA CGM – 1.55 million TEU
  
  

A Vision for Balanced Growth

OOCL stated, “This investment aligns with our long-term strategy to steadily increase fleet capacity and achieve balanced growth.” The company’s vision focuses not only on scaling operations but also on embracing cleaner fuel technologies and enhancing its global service capabilities.

This bold order marks another major milestone in the maritime industry’s evolution, setting a powerful precedent for sustainable growth and innovation in global shipping.