Standard Chartered and Orient Overseas Sign Financing Deal for Two Containership Vessels

Orient Overseas (International) Ltd (OOIL) has signed an agreement with Standard Chartered (Hong Kong) on the financing of two new containership vessels. The deal is testament to both parties’ commitment towards the development of the shipping industry in Asia.

Standard Chartered was the sole arranger for the deal, which involves the financing of two 13,208 TEU containership vessels. The two vessels are scheduled to be delivered in 2013.

Tung Chee-Chen, chairman of OOIL, said: “We are pleased to be working with Standard Chartered over the financing of these two vessels, the biggest among our fleet. We are convinced that the investment in these ships will ensure that OOIL remains internationally competitive, and that this is the right time to invest.”

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