Container ship named Singapore is newest of 32 vessels in Ocean Network Express’ fleet expansion

IMABARI, Japan – Singapore-based shipping company Ocean Network Express (ONE) has named its latest vessel after the Republic in a ceremony held in Ehime, Japan, on June 17.

The vessel, ONE Singapore, is the sixth in a series of 32 new ships of the very large container class that the company has ordered, all of which will be registered in Singapore.

The fleet is part of a major effort by ONE to expand its shipping capacity and reduce its greenhouse gas emissions, with the new ships being designed to allow for the use of alternatives to fossil fuels.

While the company declined to reveal the total cost of the new fleet, chief executive Jeremy Nixon told The Business Times that such vessels typically cost between US$200 million (S$256 million) and US$225 million each.

ONE is the seventh-largest shipping company in the world by fleet size, with around 260 vessels. The new vessels will bring that total to more than 290.

While most of ONE’s existing fleet is chartered, ONE will own the new vessels it has ordered, and can thus choose their flag, or country of registration.

“The Singapore Registry of Ships offers ONE a high-quality flag backed by strong regulatory standards, efficient administration and a reputation for safety and compliance,” said a representative of the company.

ONE currently has a total of around 50 vessels on order: the new fleet of very large container ships and others of different classes.

Singapore commitment

The naming ceremony on June 17 was held at the Hiroshima shipyard of Imabari Shipbuilding, one of multiple shipyards contracted to deliver the new ships.

At the ceremony, Mr Nixon said: “This vessel, carrying the name of our global headquarters city, symbolises our strong connection to Singapore’s vibrant maritime ecosystem.”

He added: “We continue to build upon ONE’s strong commitment to Singapore, in its prime position as the leading global international maritime centre.”

The vessel’s godmother – a prominent woman traditionally invited to officially name a ship – is Ms Tan Beng Tee, executive director of the Singapore Maritime Foundation and senior adviser at the Maritime and Port Authority of Singapore.

ONE Singapore is 336m long and has a capacity of 13,900 twenty-foot equivalent units – a measure of container volume that refers to the space occupied by a standard 20-foot shipping container.

It will enter service by the end of June on a trans-Pacific route between the US and Asia.

While the ship will use conventional marine fuel, it can be modified to use two cleaner marine fuels, methanol or ammonia, when they are available in the future.

Singapore is the world’s largest hub for bunkering, or supplying fuel to ships.

The Republic has taken early steps towards supplying those cleaner fuels, including multiple trials since 2023.

Singapore held the world’s first ammonia bunkering trial in 2024, and this March opened applications for licences to supply methanol.

The ships in ONE’s new series are also designed for increased fuel efficiency and reduced carbon emissions. For instance, they incorporate devices that reduce hydrodynamic drag, meaning that it takes less energy to propel a ship.

Of the new fleet, the first 20 vessels are being built by South Korea’s HD Hyundai Heavy Industries and Japan’s Nihon Shipyard, which is a joint venture between Imabari Shipyard and Japan Marine United.

These will be delivered in 2025 and 2026.

The remaining 12 vessels will be built by the China shipyards Jiangnan Shipyard and SGX-listed Yangzijiang Shipbuilding.

These will be delivered from 2027.

Earlier in June, ONE reportedly signed for an additional eight container ships of the ultra-large class with HD Korea Shipbuilding and Offshore Engineering in a deal worth around US$1.8 billion.

THE BUSINESS TIMES