According to Alphaliner, with global container ship orders nearing a record-breaking 10 million TEUs, Ocean Network Express (ONE) and Hapag-Lloyd are close to finalizing major orders in Asia.

Singapore-headquartered Japanese carrier ONE is reportedly in discussions with HD Hyundai in South Korea for up to 12 vessels of 16,000 TEU capacity, in a deal estimated to be worth USD 2.6 billion. Meanwhile, Hapag-Lloyd is negotiating with several shipyards for up to 12 vessels ranging from 12,000 to 13,000 TEUs, and an additional 8 vessels of 16,000 TEUs.

Alphaliner reports that Hapag-Lloyd was shocked by the “exorbitant” quotes from South Korea’s big three shipbuilders, particularly amid steep port charges imposed by the U.S. on tonnage linked to China when docking at American ports.

In its latest weekly report, Alphaliner also noted that other carriers are eyeing ultra-large container vessels (ULCVs) of 24,000 TEU capacity.