OOCL signs charter agreements with Seaspan for six new 13,000 TEU container vessels

The containerships will be chartered for 15 years from delivery

Orient Overseas Container Lines (“OOCL”) says that it has entered into charter agreements to charter six brand new 13,000 TEU container vessels for a maximum aggregate amount of RMB 11.2 billion. The agreements were signed with Seaspan on October 22, 2024. The expected delivery of these vessels is from the fourth quarter of 2026 to the first quarter of 2028 and is to be chartered for 15 years from delivery.

OOCL has been continuously assessing the global economic situation, operating environment of the shipping industry, the supply and demand for container vessels as well as seeking the appropriate timing to introduce larger, modern and energy-saving vessels to further enhance the structure and the competitiveness of its fleet. By entering into the charter agreements, OOCL can take delivery of the new vessels as early as 2026, which will allow greater flexibility for the company in fleet planning and operations under various economic conditions. This strategic move will ensure steady growth in OOCL's shipping capacity, provide advantages of economies of scale, and strengthen the core competitiveness of its fleet and services. Additionally, it will further consolidate OOCL's position in the industry and continuously support the scale and global expansion of the company.

About OOCL
“Orient Overseas Container Line" and “OOCL" are trade names for transportation provided separately by: Orient Overseas Container Line Limited (“OOCLL") and OOCL (Europe) Limited respectively and both are wholly-owned subsidiaries of Orient Overseas (International) Limited, a public company (0316) listed on the Hong Kong Stock Exchange. Headquartered in Hong Kong, China, OOCL is one of the world's largest integrated international container transportation and logistics companies, with about 130 offices in more than 100 major cities. Linking Asia, Europe, the Americas, Africa and Oceania, the company offers transportation services to all the major trading economies of the world.