Boxship giants Cosco Shipping Holdings and Hong Kong’s Orient Overseas Container Line (OOCL) are in discussions with Chinese shipbuilders for up to 25 neo-panamax newbuildings worth over $3bn.

Shipbuilding sources said Shanghai-based Cosco Shipping Lines is looking to order up to 10 vessels of 13,000 teu. The deal being discussed is for six firm vessels plus options of an additional four.