ONE and Hapag-Lloyd line up more than 30 newbuild contracts
Shipping Giants Eye Major Vessel Orders
In a significant development for the shipping industry, Alphaliner reports that Ocean Network Express (ONE) and Hapag-Lloyd are on the verge of finalizing substantial vessel orders in Asia. As the global container orderbook approaches a staggering 10 million twenty-foot equivalent units (teu), these negotiations signal an ongoing demand for new shipping capacity. The proposed deals involve cutting-edge vessels that could reshape the market.
ONE and Hapag-Lloyd’s Ambitious Plans
Singapore-based Ocean Network Express (ONE), which is Japanese-owned, is currently in talks with HD Hyundai in South Korea for an order of up to twelve ships, each with a capacity of 16,000 teu. This ambitious deal is valued at approximately $2.6 billion, highlighting ONE’s commitment to expanding its fleet in a competitive environment. Meanwhile, Hapag-Lloyd is also in discussions with multiple shipyards for a mix of vessels, including up to twelve ships ranging from 12,000 to 13,000 teu and an additional eight vessels with a capacity of 16,000 teu.
However, Hapag-Lloyd has expressed concerns regarding the pricing from South Korea’s leading shipyards. The company described the quotes as “outrageous,” a reaction to the recent changes in U.S. shipping policy which has increased port fees for vessels linked to Chinese interests. This pricing pressure reflects the broader challenges the shipping industry faces amid shifting global trade dynamics.
Despite the unprecedented scale of the current vessel orderbook, which is nearing 10 million teu, interest in new vessels remains strong. Alphaliner’s latest report notes that both third-party owners and shipping companies continue to seek opportunities to expand their newbuilding pipelines. This trend suggests that the demand for megamax vessels, capable of carrying 24,000 teu, is still alive, indicating a robust outlook for the shipping sector in the coming years.
