Daewoo shipyard
NOL Group confirmed it has signed contracts with Korea’s Daewoo Shipbuilding & Marine Engineering Co. and Hyundai Samho Heavy Industries Co., Ltd to build 12 new container vessels, including ten of its largest vessels. The confirmation follows the Group’s announcement on June 15 that it had signed letters of intent with both shipyards for its $1.54 billion newbuild program.
Singapore-based NOL also announced that it had agreed to charter five of the newly ordered 14,000-TEU container vessels to alliance partner, Mitsui O.S.K. Lines (MOL) when they are delivered in 2013 and 2014. NOL and MOL said they reached the three-year charter arrangement to upgrade service in The New World Alliance. NOL’s container shipping line – APL – is part of the alliance along with MOL and Hyundai Merchant Marine.