Ocean Network Express (ONE) Eyes New Round of Neo-Panamax Orders

Ocean Network Express (ONE) Eyes New Round of Neo-Panamax Orders

Japan’s Ocean Network Express (ONE), the combined container shipping entity comprising NYK, K Line, and MOL, is reportedly pursuing the acquisition of up to ten additional container vessels with a capacity of approximately 13,000 twenty-foot equivalent units (TEU).

The carrier has initiated negotiations with shipyards in China, Japan, and South Korea, seeking to secure construction slots for the production of five to ten compact neo-panamax ships.

ONE has requested shipyards to submit proposals for both conventional propulsion systems and variants equipped with methanol dual-fuel propulsion technology.

Within this specific vessel size category, Ocean Network Express already has 20 vessels in its pipeline, scheduled for delivery in 2025 and 2026. Hyundai Heavy Industries in Korea will construct five of these ships, while Imabari Group in Japan will build the remaining 15 vessels. Although these ships will initially feature conventional propulsion, they will be designed to accommodate future retrofitting for methanol and/or ammonia power systems.

Realistically, due to high demand at major shipyards, Ocean Network Express anticipates relatively late deliveries, possibly extending into 2026 and 2027.

In terms of their dimensions, most modern 13,000+ TEU ships are of compact Neo-Panamax design, measuring approximately 335.00 meters in length and 51.00 meters in width, accommodating 20 rows of containers.

In mid-2022, ONE agreed to pay around USD 166 million for each of its upcoming 13,000+ TEU vessels. The planned methanol-dual fuel units may come at a higher cost, as this vessel type typically carries a premium of approximately 15% over conventional tonnage.

Source: ONE, Alphaliner

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