Orient Overseas Container Line orders another five 4,500-teu containerships at Samsung Heavy Industries

The Hong Kong shipowner has ordered another five 4,500-teu containerships at Samsung Heavy Industries in a deal worth $331m. The liner company already has four 4,500-teu ships on order at Samsung which were contracted in July 2006. Those ships are due for delivery in mid-to-late 2010. OOCL said these latest ships are due for delivery in 2009. OOCL is paying $66.2m for these latest ships, roughly the same as it paid for the 4,500-teu ships ordered nine months ago. Some 80% of the purchase price of the latest ships will be provided by bank loans with the remainder funded from internal resources. OOCL’s existing containership orderbook includes a series of 8,063-teu ships at Samsung as well as a pair of 4,250-teu ships on order at China's Hudong-Zhonghua Shipbuilding.