New World lines order big for Asia/Europe

New World lines order big for Asia/Europe    Two members of the New World Alliance mapped out sizable fleet expansions on Monday, including a decision to share in the operation of 10 new 14,000-TEU ships to be delivered in the next three years.
   NOL, the Singapore-based parent company of container line APL, said Monday it has finalized a deal with two South Korean shipyards to build 12 vessels — 10 14,000-TEU ships from Hyundai Samho Heavy Industries, and two 9,200-TEU vessels from Daewoo Shipbuilding & Marine Engineering Co.
   NOL had signed letters of intent with the two yards earlier in June. The vessels are due for delivery in 2013 and 2014.
   NOL said five of the 14,000-TEU ships will be chartered on a three-year contract to fellow NWA member MOL. The lines will operate the vessels on the Asia/Europe trade.
   'Consideration of the charter agreement went into the decision to order the 10 14,000-TEU ships — viewing it as a means of balancing the alliance’s capacity contribution, and allowing (our) shipping unit, APL, to increase its capacity gradually,' NOL said in a statement.
   NOL has more than 370,000 TEUs of capacity on order, second most in the industry behind Mediterranean Shipping Co.
   The line said it has received firm financing offers totaling $1.1 billion from various banks and financial institutions for the 12 new vessels. The rest of APL's newbuild program will be funded by bonds recently issued by NOL and from internal resources.
   MOL, meanwhile, said Monday it has two 8,600-TEU containerships from Mitsubishi Heavy Industries, with delivery slated for 2013.
   'Along with eight 8,100-TEU ships already in operation, the new vessels will be deployed to Asia/Europe routes,' the Japanese line said in a statement.