GIVEN the conflicting factors at play including global
over capacity and rock bottom prices for newbuildings, Hong Kong's Orient
Overseas Container Line (OOCL), is still in the market for new ships,
"Having competitive fuel-efficient tonnage is very
important to us. If this can only be obtained by newbuildings, I don't see a
reason why we don't order," OOCL executive director and acting chief
financial officer Alan Tung.
"We ordered the new ships in 2011. Looking at the
records, certainly the price has come down since that time - and I'll leave it
there," he said.
Mr Tung also told a press conference said four 8,888-TEU
vessels would be delivered by mid-2014 from Hundong Zhong.
"The whole purpose for us to have a strong, liquid
balance sheet is that management can get newbuildings using its own initiative
and not to be held hostage of financing or other things," he said.
OOCL parent, Hong Kong listed Orient Overseas
(International) Ltd, had US$1.9 billion in cash reserves.
In early 2011, the carrier ordered ten 13,200-TEU
mega-ships at Samsung Heavy Industries for US$136 million each, almost the same
price for China Shipping Container Lines' giant 18,000-TEUer at Hyundai Heavy
Industries earlier this year.
Source : HKSG.
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