Ocean Network Express Pte. Ltd. (ONE) has signed shipbuilding contracts with both Hyundai Heavy Industries Co. Ltd. and Nihon Shipyard Co., Ltd. to construct five vessels each, adding a total of ten modern Very Large Container Ships (VLCS) to ONE's fleet.

In a statement, ONE said these ships have a nominal capacity of more than 13,700 TEU and are to be delivered in 2025.

It noted that this investment "embodies" ONE's Midterm Strategy announced in March, to safeguard a sustainable supply chain for the future and underscore ONE's green strategy and decarbonization plan.

ONE said the vessels are designed with the highest efficiency standards as well as a variety of cutting-edge technology to reduce navigational impacts on the environment and are planned for the "Ready notation" or "AiP (Approval in Principle)" of Ammonia and Methanol as fuel, Carbon Capture, and Storage.

"Moreover, this fleet will enable ONE to broaden the exploration of long-term alternative fuels and decarbonization technologies in the future," the shipping line said. "ONE is determined to become a leader in maritime decarbonization and remains fully committed to achieving sustainable marine transportation by achieving carbon neutrality by 2050."

It said the company will continue to make necessary investments in greener assets and technologies, whilst engaging in open collaboration with industry stakeholders.