ONE Linked to $1.76B Order for 8 Mega Containerships

Ocean Network Express (ONE), a Singapore-headquartered container carrier backed by Japanese firms, is reportedly behind a recent high-value shipbuilding contract with HD Hyundai Heavy Industries for a new series of large vessels.

Eight 15,900 TEU Vessels Ordered

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) announced on Tuesday that it had secured a $1.76 billion deal from an unidentified Asia-based customer for eight 15,900 TEU containerships. Although the client wasn’t officially disclosed, industry sources have confirmed that ONE—the alliance between NYK Line, Mitsui O.S.K. Lines (MOL), and Kawasaki Kisen Kaisha (K Line)—is the buyer.

Largest Newbuilds Yet for ONE

ONE ranks as the sixth-largest container shipping company globally, managing a fleet of over 220 vessels. Since initiating its newbuilding program in 2022 with 13,700 TEU ships built by HD Hyundai Heavy Industries and Nihon Shipyard, the company has continued to expand its orderbook. The latest order represents ONE’s largest newbuilds to date.

Scheduled for sequential delivery by the latter half of 2028, the vessels will be constructed at HD Hyundai’s Ulsan Shipyard in South Korea. Each ship will carry a price tag of approximately $220 million.

LNG Dual-Fuel and Future Options

The newly ordered vessels will be powered by dual-fuel engines capable of operating on liquefied natural gas (LNG), aligning with ONE’s focus on environmentally sustainable operations. Sources also suggest the company may have secured options for four additional vessels of the same class from the yard.

A Strong Year for HD KSOE

HD KSOE has had a robust year for orders, having secured contracts for more than 40 containerships so far in 2025. Notably, over half of those are expected to feature LNG dual-fuel capabilities upon delivery, reflecting a wider industry shift toward cleaner propulsion technologies.