Ocean Network Express has returned to South Korea’s HD Hyundai Heavy Industries for another batch of LNG-capable containerships, pressing ahead with its long-term alternative-fuel fleet renewal strategy despite scaling back earlier expansion plans.

Market sources identified the Singapore-headquartered liner operator as the buyer behind a $1.22bn newbuilding contract announced by HD Korea Shipbuilding & Offshore Engineering last week.

The deal covers six 15,900 teu LNG dual-fuel containerships, with deliveries scheduled between November 2028 and September 2029. The vessels are priced at roughly $203.5m each.

The latest order adds to ONE’s growing portfolio of alternative-fuel tonnage spread across yards in both South Korea and China.

According to MB Shipbrokers, discussions surrounding the latest project had been ongoing for several months and form part of the carrier’s broader strategy to modernise its fleet with lower-emission vessels. The order is understood to be smaller than ONE’s original ambitions, with the carrier previously linked to plans for as many as 22 dual-fuel ships.

ONE has been among the most active carriers in the dual-fuel containership market over the past three years. The liner operator has placed orders for more than 30 dual-fuel vessels at yards in China and South Korea, including methanol-fuelled 13,000 teu and 13,000-plus teu ships at Jiangnan Shipyard and Yangzijiang Shipbuilding, alongside a separate series of LNG-fuelled 15,000-plus teu vessels at HD Hyundai Heavy Industries.

The latest order strengthens long-standing ties between ONE and the South Korean shipbuilder, which has secured a sizeable share of recent LNG dual-fuel containership contracts from major global liners.

Formed by Japanese shipping majors Mitsui OSK Lines, Nippon Yusen Kaisha and K Line, ONE has steadily expanded its fleet and now ranks sixth on the Alphaliner list of the world’s largest container carriers. The company currently operates around 280 vessels with a combined fleet capacity exceeding 2m teu.

The latest order also comes during a period of leadership transition at the carrier. Earlier this year, ONE confirmed that chief executive Jeremy Nixon will step down on July 1, with Till Ole Barrelet set to take over the top role.