OOIL in $544m newbuilding splash

Orient Overseas (International) Ltd (OOIL) is splashing out $544m on a further quartet of 13,000 teu boxships from Samsung Heavy Industries (SHI). The 13,000 teu containerships are due to be delivered in 2013 and 2014. OOIL said it was currently arranging bank finance for the vessels and about 70% of the $544m order price would be covered by financing. 


The company said the new vessels would improve its operating efficiency and profitability. The Hong Kong company ordered six similar vessels in March this year for $816m, also from SHI.
(Source:http://www.seatrade-asia.com)