OOIL orders boxship duo

Orient Overseas (International) Limited (OOIL), the Hong Kong based group that owns one of the world?s largest international container transport business which trades under the name OOCL, has placed an order with the Chinese shipbuilder Hudong-Zhonghua for two 4,250TEU container vessels at a cost of $108.4 million.

OOIL said it plans to pay 80% by external financing while internal resources would provide the remaining 20%. The ships are expected to be delivered in the final quarter of 2006 and the first quarter of 2007 respectively.

Last month OOIL placed an $221.20 million order for four 4,500TEU container ships from Samsung Heavy Industries. The first unit will be delivered in the second quarter of 2007 with the others following at 3 monthly intervals.