(From The Standard)
Byline: Keith Wallis
Orient Overseas Container Line (OOCL), the Tung family-controlled shipping company, is upgrading its fleet with four 5,700-TEU (20-foot equivalent unit) container ships that together are worth about US$240 million (HK$1.87 billion).
The ships have been ordered from Japan's Imabari Shipbuilding by Imabari's parent company Shoei Kisen which agreed on a long-term charter with OOCL. The vessels will be delivered by the end of 2005 and replace older tonnage. With space at many shipyards at a premium, market insiders said Imabari had ``bumped off'' a Japanese shipowner to guarantee OOCL delivery of the vessels in …