[ Global Alliance Christens K-10 Containerships in Korea ]

The Global Alliance today christened three K-10 container vessels at
Daewoo Heavy Industries Shipyard in Okpo, Korea. The vessels will be e
mployed in the Asia-Europe service of the Global Alliance, formed by A
merican President Lines, Ltd.(APL), Mitsui O.S.K. Lines Ltd.(MOL), Ned
lloyd Lines(NLL) and Orient Overseas Container Lines(OOCL). The first
of the vessels, MV OOCL Germany, is expected to be delivered on March
15, 1996. MV OOCL France is expected to enter sea trials in May, and M
V APL Indonesia is expected to enter sea trials in July, 1996.
The three vessels were initially ordered by APL in 1993, prior to form
ation of the Global Alliance. APL sold the construction contracts in 1
995 to third party investors. The Global Alliance formed a joint ventu
re to charter back the vessels. OOCL, in turn, is subchartering the K
10s from the joint venture for use in the Global Alliance’s Asia-Euro
pe service, replacing three of its 2,800TEU vessels.
The three vessels have a container carrying capacity of 4,000 TEU with
a service speed of 23.5 knots.
The Global Alliance covers the major East-West connections between Eur
ope and the Far East and between the Far East and the United States of
America, with a combined fleet of 67 container vessels.