Despite falling freight rates and uncertainty regarding consumer demand, container shipping’s ordering spree continues with Japanese shipping line Ocean Network Express announcing an order for ten additional large containerships.
ONE announced the new order on Wednesday, which it says is in-line with the company’s medium-term strategy announced in March 2022. The latest order follows an earlier order for 10 similarly-sized vessels placed in May 2022.
“By ensuring a stable deployment of new, state-of-the-art container vessels without constrained by short-term fluctuations in the container market, the company aims to strengthen its fleet competitiveness and meet customer demand for building and maintaining an efficient and reliable supply chain,” ONE said in its announcement.
The latest ten vessels will come with a carrying capacity of over 13,700 TEU and are planned to be delivered in 2025 and 2026.
To align with ONE’s “green” strategy, the latest newbuilds will be methanol and ammonia fuel “ready” and they will also feature a bow cover as well as other energy-saving technologies. ONE says it has also started discussions with the shipyard and equipment manufacturers to implement onboard carbon capture and storage upon delivery.
ONE did not disclose the shipbuilder or shipbuilders selected for this latest order, but for what it’s worth, the order in May was placed with South Korea’s Hyundai Heavy Industries and Japan’s Nihon Shipyard of Japan, with each constructing five vessels of the same size and energy-efficient technology and fuel.
Speaking of bow covers, ONE recently unveiled the installation of energy-saving “Bow Wind Shields” on two of its 20,000 TEU capacity ships, which will help to contribute to reducing CO2 emissions.
“For ONE, green strategy is a top management priority, and it aims to achieve carbon neutrality by 2050,” ONE said. “The company committed to achieving sustainable maritime transportation by continuing to invest in greener assets and technologies and, as a leader in decarbonization in shipping, to decarbonize maritime transport through extensive collaboration with industry stakeholders.”
Ocean Network Express, or ONE for short, was formed in 2017 through the combination of the container shipping businesses of Japanese shipping lines Kawasaki Kisen Kaisha (“K” LINE), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kaisha (NYK). The company currently ranks as the world’s seventh largest container line with a fleet size of approximately 1.52 million TEUs and 204 vessels, according to Alphaliner’s rankings.
The latest order bring’s ONE’s order book to 54 vessels and a combined 571,000 TEUs, Alphaliner data shows.
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