APL orders 10,000 TEU ships

SINGAPORE-based global transportation and logistics group Neptune Orient Lines (NOL) announced that it intends to buy eight large, high-speed container ships worth a total of approximately US$1 billion, ?ubject to the satisfactory completion of contractual terms and documentation.?The company did not identify the yard or yards involved but stated, ?he vessels will be built in South Korea and will be delivered during 2011.?The company intends to deploy the vessels in APL? Asia-Europe trade. Each ship will have a capacity of 10,000 TEU and a design speed of more than 26 knots.