Singapore-based Neptune Orient Lines (NOL) announced it had signed letters of intent with Hyundai Samho for construction of 12 new vessels, Reuters reported. NOL will also upgrade its 10 newbuilds order worth $1.54bn placed last year.
The 12 new vessels include 10 vessels of 14,000 TEUs to be built at shipyards of Hyundai Samho Heavy Industries, as well as two 9,200-TEU ships to be constructed by Daewoo Shipbuilding and Marine Engineering. The ships are scheduled for delivery in 2013 and 2014, NOL said in a statement.
NOL added that it is investing in new, larger vessels to reduce unit capital and operating costs, meet future growth needs as well as replace older and smaller chartered vessels that will be returned to their owners.
The 12 new vessels include 10 vessels of 14,000 TEUs to be built at shipyards of Hyundai Samho Heavy Industries, as well as two 9,200-TEU ships to be constructed by Daewoo Shipbuilding and Marine Engineering. The ships are scheduled for delivery in 2013 and 2014, NOL said in a statement.
NOL added that it is investing in new, larger vessels to reduce unit capital and operating costs, meet future growth needs as well as replace older and smaller chartered vessels that will be returned to their owners.