Plummeting profits and an over-supplied container market are not stopping Asian liner giant Ocean Network Express from placing new vessel orders.

Shipbuilding sources say the Singapore-headquartered company, known as ONE, has selected two shipyards in China to build a series of methanol dual-fuel 13,000-teu neo-panamax boxships worth close to $2bn.

ONE is said to have contracted state-owned Jiangnan Shipyard and Singapore-listed Yangzijiang Shipbuilding to build six each.