OOCL signs charter agreements with Seaspan for six new 13,000 TEU container vessels

Orient Overseas Container Lines (“OOCL”) entered into charter agreements on 22 October 2024 with Seaspan, to charter six brand new 13,000 TEU container vessels for a maximum aggregate amount of RMB 11.2 billion. The expected delivery of these vessels is from the fourth quarter of 2026 to the first quarter of 2028 and is to be chartered for 15 years from delivery.

OOCL has been continuously assessing the global economic situation, operating environment of the shipping industry, 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. 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. 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. Additionally, it will further consolidate OOCL's position in the industry and continuously support the scale and global expansion of the company.