NOL To Charter Two Vessels For APL

Neptune Orient Lines Ltd. (NOL) will charter two new large container ships for use by APL, its container transportation and logistics unit, according to company officials. Officials said APL will deploy the vessels, each with a capacity of 5,500 teu, in Asia-Europe trade. NOL said the two vessels, to be built at the Samsung Heavy Industries yards at Koje Island in South Korea, were scheduled to be delivered in mid-2001. NOL will charter the vessels from owner Greece-based Danaos Shipping Company for a period of five years or longer, bringing total NOL container capacity to about 215,000 teu.