ONE to Charter World's Largest Containerships

Singapore-headquartered container carrier Ocean Network Express Pte. Ltd. (ONE) said it has signed a letter of intent (LoI) with Japan's Shoei Kisen Kaisha, Ltd. for the 15-year charter of six new ultra large containerships (ULCS). The vessels, with capacity greater than 24,000 TEU each, are said to be the world's largest.

The newbuilds will be built by the consortium of compatriot shipyards Imabari Shipbuilding Co., Ltd. and Japan Marine United Corporation for planned delivery in 2023 and 2024.

"This new class of ships will join our core fleet and forms part of our ongoing strategy to introduce large, modern, and fuel-efficient vessels to further strengthen our fleet competitiveness," ONE said in a press release on Thursday.

Currently, the world’s largest containerships—Hyundai Merchant Marine's Algeciras class—have a maximum capacity of slightly below 24,000 TEU. The six new ULCS with capacity exceeding 24,000 TEU will help bring economies of scale and significantly lower carbon emissions through a state-of-the-art hull design that aims to maximize cargo intake and minimize fuel consumption, ONE said. The vessels will be equipped with exhaust gas cleaning systems, also known as scrubbers, to meet International Maritime Organization (IMO) emissions regulations.