Shipping and port giant China Cosco Holdings Co. is set to order at least 10 container megaships, joining an array of competitors in their quest to dominate the world’s busiest ocean trade routes, people with direct knowledge of the matter said.

The so-called Triple-E vessels, which can move 19,000 containers each, will be ordered from a Chinese yard and will cost around $1.4 billion in total.

“Cosco is in the final process of choosing among five Chinese yards and we may get the firm order by the end of May,” one of the people said. “The ships will be deployed in the Asia-to-Europe trade loop.”

Read more here.