NOL in 10-ship order spree as prices rise

NEPTUNE Orient Lines has become the second container shipping line in recent weeks to place a newbuilding order, signing a US$975m contract for a series of 10 ships of 8400 teu capacity plus a letter of intent for a pair of 10,700 teu vessels.

If the letters of intent are converted into firm orders, the total value of the deal would be US$1.2bn.
The ships will be built by Daewoo Shipbuilding & Marine Engineering (DSME) for 2013 and 2014 delivery.
NOL said it was...

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