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OOCL snubs Samsung in favour of Hudong-Zhonghua

OOCL snubs Samsung in favour of Hudong-Zhonghua

Hong Kong: Orient Overseas Container Line (OOCL) has recently ordered four 8,600 teu containerships from Chinese yard Hudong-Zhonghua Shipbuilding (Group). The ships were priced at $120.7 million apiece. Thus far, OOCL has entrusted South Korean builder Samsung Heavy Industries with the construction of boxships larger than 8,000 teu. This time, OOCL chose Hudong-Zhonghua for the first time for building such ships. It has previously ordered Panamax-type boxships from the Chinese yard.

Orient Overseas (International) Ltd. (OOIL), the parent company of OOCL, notified the Hong Kong Stock Exchange the contract details. Total contract value was given at $482.8 million, and payment will be made in five installments of 20% each. The first ship is due to be completed in the fourth quarter of 2010, with the rest to be delivered in 2011.

OOCL currently operates 12 units of the 8,063-TEU containership, dubbed SX-class, all built by Samsung.  [17/10/07]