Regional Container Lines (RCL) is splashing out $46m for two boxship newbuildings ordered in China.

RCL has ordered two Bangkokmax 1,668 teu vessels from Yangzijiang’s Jiangsu New Yangzi Shipbuilding at $23m each for delivery in late 2017.

The newbuildings will replace to existing vessels that are reaching 25 years in age and RCL said the new ships would have a 36% saving on bunker cost.

“With the price of steel plate now reaching the bottom it is the proper time to place order for the new buildings at best price,” RCL said.