Japan's No 1 shipping company MOL is in the market to buy 20,000-TEU newbuildings through a third party charter deal, according to media reports.

If realised, the vessels would be the largest in the world, overtaking the 19,224-TEU MSC Oscar.

MOL president Koichi Muto said in his New Year message: 'As far as the structural problem our containership division faced, we have already taken steps to reform the business, such as upgrading the fleet with the world's largest containership - 20,000 TEU - make us more cost competitive,' reported SeaTrade Global, UK.

The largest containership currently in service is the 19,000-TEU CSCL Globe, which is set to be eclipsed this month by the 19,224-TEU MSC Oscar when it enters the Asia-Europe trade.

Looking at the containership business as a whole Mr Muto said: 'With global economic expansion, containerised cargo trade is certain to keep growing so the containership business, including container terminals, represents a growth opportunity.'

He said there was still plenty of room to improve profitability in the market sector through advancement in operations and yield management.