APL, the container shipping arm of Singapore's Neptune Orient Lines, has signed a charter agreement for five new 7,000 TEU containerships.

The vessels will be deployed on the transpacific trade from 2009, where the shipping line said demand will be robust.

"Growth in the transpacific has consistently exceeded industry expectations. The relationship between ship supply and demand in the trade is forecast to narrow between 2007 and 2009. These vessels will enter service at a point that additional capacity will be required," said APL CEO, Ron Widdows.

The vessels are being built at Hyundai Heavy Industries in South Korea and will be chartered for five years from German owners, Bernhard Schulte.

"These vessels will enable us to further enhance our service offering and provide us with cost efficient growth," said Bob Sappio, APL's senior vice president for the transpacific trade.

For now, APL plans to introduce seven container ships into its fleet this year to increase its carrying capacity by around 10 per cent. APL's fleet currently comprises 110 vessels.