OOCL Orders Six Ultra-Large Container Ships
Orient Overseas (International) Ltd. has placed a new order for six mega 20,000 teu container ships from South Korean shipbuilder Samsung Heavy Industries Co. for US$951.6 million. Orient Overseas, controlled by the family of former Hong Kong chief executive Tung Chee-hwa, said the container vessels will be delivered in 2017. The company plans to fund the purchases with a bank loan for up to 70 % of the costs and the remainder funded by its internal resources, a stock filing of the company said on 1 April. The contract price of each vessel is payable in cash in five equal installments. The deal marks the container shipping operator's first major fleet expansion in nearly four years…
OOCL Mega-Container Ship Named in Korea
OOCL Bangkok took center stage at the Samsung Heavy Industries shipyard as the sponsor, Mrs. Betty Tung, delivered an Encomium that blessed the mega vessel, as well as her cargo and all the people who will sail with her. In his ceremonial address, Mr. C. C. Tung, Chairman of Orient Overseas (International) Limited, thanked everyone who had contributed to the success of the newbuilding and highlighted the importance of the new mega vessels to OOCL. “In today’s challenging global economic environment…
OOIL Orders Two Containerships For $160M
Orient Overseas (International), the shipping giant controlled by Hong Kong Chief Executive Tung Chee-hwa's family, said two of its subsidiaries have entered into a contract with Samsung Heavy Industries Co Ltd to build two container vessels. The two post-Panamax container vessels, worth a total of $160 million, represent about 20.9 percent of OOIL's net tangible assets, the company said in a published statement. Each can carry 7,400 teu. OOIL said the new vessels, to be funded by internal resources and external finance, will improve the operating efficiency and profitability of the group. - (Reuters)
