JAPAN's NYK has signed a time charter agreements for eight new 14,000 TEU containerships which will be built at the Kure shipyard of Japan Marine United Co Ltd.

The newbuildings will be delivered from February 2016 through January 2018 and will be equipped with improved fuel efficiency and cargo loadability among today's containerships of similar size, the shipping company said.

The costs of the deal were not disclosed and the shipping line did not disclose the name of the company behind the order.

After delivery of the new Panamanian-registered vessels, they will be put into service in Asia and Europe as replacements for existing ships, including four 13,000 TEU vessels chartered from Orient Overseas Container Line (OOCL).

The new vessels are 364 metres long and 51 metres wide with a designed draft of 15 metres and a deadweight tonnage of 123,000 tonnes.