OOCL and NYK Finalize Charter Agreement for Four 13,000 TEU Vessels

May 12, 2011
NYK and OOCL are pleased to announce that they have entered into an agreement for the charter of four 13,000 TEU ships.

OOCL has exercised its option to order an additional four 13,000 TEU ships on top of the original order of six.

Out of the ten ships, four will be chartered to NYK for a period of three years. The first charter ship will be delivered to NYK in 2013.

Both parties intend to deploy these ten ships within the Grand Alliance service network to allow for a service upgrade.

About NYK;
Nippon Yusen Kabushiki Kaisha is one of the world's leading transportation companies; NYK is based in Tokyo and has regional headquarters in London, New York, Singapore, Hong Kong, Shanghai, Sydney, and Sao Paulo, at the end of March 2010, the NYK Group was operating 803 major ocean vessels, as well as fleets of planes, trains, and trucks.

The company's shipping fleet includes 142 containerships, 321 bulk carriers, 57 woodchip carriers, 115 car carriers, 85 tankers, 30 LNG carriers, three cruise ships, and 50 other ships.

About OOCL;
Orient Overseas Container Line (OOCL) is a wholly-owned subsidiary of Hong Kong Stock Exchange listed Orient Overseas (International) Ltd., Headquartered in Hong Kong, OOCL is one of the world's largest integrated international container transportation and logistics companies, with more than 270 offices in 60 countries.

OOCL is one of the leading international carriers serving China, providing a full range of logistics and transportation services throughout the country; It is also an industry leader in the use of information technology and e-commerce to manage the entire cargo process.