NOL Invests $1.2bn in Fleet Expansion

26 July 2010 (Last Updated July 26th, 2010 18:30)

Neptune Orient Lines (NOL) has signed a $1.2bn order with Daewoo Shipbuilding & Marine Engineering for the construction of 12 ships. The order book, which includes ten confirmed vessels of 8,400teu, will be delivered to NOL's APL unit between 2013 and 2014, the company said.

Neptune Orient Lines (NOL) has signed a $1.2bn order with Daewoo Shipbuilding & Marine Engineering for the construction of 12 ships.

The order book, which includes ten confirmed vessels of 8,400teu, will be delivered to NOL’s APL unit between 2013 and 2014, the company said.

The ships will replace chartered-in vessels and expand NOL’s fleet.

The company has also signed a letter of intent for two 10,700teu vessels.

In June 2007 NOL signed contracts for eight 10,000teu container ships from yards including Daewoo.