Hong Kong-headquartered TS Lines is expanding its fleet with two newbuildings.

The intra-Asia liner operator has contracted Japan’s Kyokuyo Shipyard to build a pair of 1,000-teu containerships.

A shipping source close to TS Lines has confirmed the order, saying the company is paying around $17m each for the ships.

TS Lines is taking advantage of low shipbuilding prices to increase its owned tonnage.