Neptune Orient Lines (NOL) has added a new, eco-friendly vessel to its fleet as part of a renewal programme that will ultimately help the firm reduce costs.

The 14,000-twenty-foot equivalent unit (TEU) container ship, named APL Temasek, is the largest container ship to be registered in Singapore.

NOL estimates that the ship is able to improve fuel efficiency by about 20 to 30 per cent per TEU for a speed range of 15-18 knots, compared with previous designs.

APL Temasek is the first in a series of ten 14,000-TEU vessels on order by the Singapore-based shipping and logistics group.

"We are modernizing our fleet, improving our cost structure, and investing in the future," said chairman Kwa Chong Seng in a statement on Monday.

"To compete successfully in today's marketplace, we must ensure that we have the most competitive product with the latest technology, design and sustainability features."

The delivery of APL Temasek follows that of ten new 10,000-TEU ships, which joined the fleet between 2011 and 2012.

These newbuildings are part of a US$4 billion fleet renewal programme aimed at improving NOL's slot cost. They are replacing older, less efficient ships that are either sold or returned to charter owners.

"With the delivery of this new series, we are on track to fulfill current and future requirements for more economical and environmentally-sustainable ship operations," said Mr Kwa.