PIL Secures Deal for 8 LNG Dual-Fuel Neo-Panamax Vessels

Pacific International Lines (PIL) has taken a significant step forward in its next phase of fleet renewal by signing Letters of Intent (LOI) for eight LNG dual-fuel Neo-Panamax container vessels. Notably, this deal is split between Chinese and South Korean shipbuilders.

Order Structure and Partners

According to multiple market and shipbuilding sources, the Singapore-based liner operator has selected Hudong-Zhonghua Shipbuilding (China) and HD Hyundai Heavy Industries (South Korea). Specifically, each yard will secure four newbuildings with a capacity of 13,000 TEU.

Delivery schedules are pencilled in for 2028 and 2029.

The world's 12th-ranked carrier by capacity has been in negotiations with yards since last year, undergoing careful deliberation for its next round of fleet investment.

$1.5 Billion Strategy for a Green Future

These eight vessels are part of a broader newbuilding campaign valued at approximately USD 1.5 billion, aimed at modernizing the fleet and cutting emissions. The LNG dual-fuel vessels are designed to operate on major East-West trade lanes and regional routes, offering PIL greater flexibility as environmental regulations tighten and fuel strategies evolve.

Bolstering the Orderbook

These latest LOIs add to the carrier's already substantial orderbook. According to data from Alphaliner, PIL currently has 23 vessels on order, including 12 LNG-powered units - comprising five 13,000 TEU and seven 9,000 TEU vessels - all contracted at Hudong-Zhonghua’s Jiangnan Changxing facilities.

With this series of Neo-Panamax vessels, market sources suggest that PIL is showing a clear inclination towards LNG as a transition fuel, combining larger, more efficient hulls with cleaner propulsion systems as it reshapes its fleet for the coming decade.

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Source: Phaata.com (According to Splash247)

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