Daewoo Shipbuilding & Marine Engineering is about to win massive newbuilding orders for ultra-large containerships.
The South Korean shipbuilder announced on 9th in a regulatory filing that it is in negotiation with Asian shipowner, presumably NOL, to build containerships.
It is also set to win 10 more 18,000-teu containerships from AP Moller Maersk after signing 10 such ships back in February.
Singapore's Neptune Orient Lines (NOL) is said to be nearing newbuilding splurge for 10 13,000TEU's and two 10,000TEU's at South Korean yards, most likely at Daewoo and Hyundai.
Meanwhile, NOL is now pressing on with a huge notes issue just days after bagging a loan to pay for its remaining newbuildings.
Singapore-listed NOL is looking to grab $300m from the fundraiser with the cash thought to be destined for a pending order blitz.
It explains the money will pay for its “2011 newbuildng programme” which is rumoured to be about to up a gear.
At the start of June NOL bagged a $1.1bn loan to complete the funding of its existing newbuildings.