Mitsui OSK Lines is planning to order two luxury 35,000-gt oceangoing cruise ships at a cost of ¥100bn ($722m).

The Tokyo-based company said the contract is part of its business plan to diversify into maritime-related sectors outside mainstream commercial shipping.

In a statement to the Tokyo Stock Exchange MOL said: “The company has decided to build two ocean-going cruise ships to capture domestic and international cruise demand, which has less linkage to shipping market fluctuations and is expected to expand in the future.”