NOL to Order Eight 10,000 TEU Ships

Neptune Orient Lines (NOL) intends to invest in eight large, high-speed container ships worth a total of approximately $1 billion, subject to the satisfactory completion of contractual terms and documentation.

Each ship will have a capacity of 10,000 TEU and a design speed of more than 26 knots.

The vessels will be built in South Korea and will be delivered during 2011. The company intends to deploy the vessels in APL’s Asia-Europe trade.