Orient Overseas Container Lines (OOCL) has entered into charter agreements with Seaspan to charter six brand-new 13,000 TEU container vessels for a maximum aggregate amount of RMB 11.2 billion (US$1.6 billion).

The Hong Kong-headquartered shipping line said the expected delivery of these vessels is from the fourth quarter of 2026 to the first quarter of 2028, and they will be chartered for 15 years from delivery.

OOCL noted that it had been continuously assessing the global economic situation, the operating environment of the shipping industry, and the supply and demand for container vessels, as well as seeking the appropriate timing to introduce larger, modern and energy-saving vessels to further enhance the structure and the competitiveness of its fleet.

 [Source: OOCL]

"By entering into the charter agreements, OOCL can take delivery of the new vessels as early as 2026, which will allow greater flexibility for the company in fleet planning and operations under various economic conditions," it said.

"This strategic move will ensure steady growth in OOCL's shipping capacity, provide advantages of economies of scale, and strengthen the core competitiveness of its fleet and services," OOCL said.

The shipping line noted that it will also consolidate OOCL's position in the industry and continuously support the company's scale and global expansion.