Yang Ming Marine expanding fleet with bigger vessels
Yang Ming Marine Transport Corp. ( ), one of Taiwan’s leading container shippers, said Friday that it will take delivery of 14 large-sized ships over the next two years, as it moves to expand its fleet of shipping vessels.
At the end of March, the company took delivery of the first of 15 vessels it had ordered, each of which has a capacity of 14,000 twenty- foot (TEUs).
The new vessel, supplied on a charter basis by Seaspan Ship Management Ltd. of Canada, is the biggest ever used in Taiwan’s shipping industry.
It is being used on a route between Asian and Europe, amid optimism toward cargo shipping demand based on increased global trade activity, Yang Ming
units Marine said.
By the end of 2015, the company said, it will take delivery of another nine 14,000 TEU vessels from Seaspan.
In 2016, Yang Ming Marine will charter five 14,000 TEU vessels from Taiwan-based shipbuilder CSBC Corp. ( ).
Yang Ming Marine, whose fleet has a total capacity of about 470,000 TEUs, is likely to rise in the world rankings with the addition of the 15 new vessels, market analysts said.
The new ships will give the company an additional capacity of 210,000 TEUs, pushing it from 14th place to 10th in the world rankings in terms of capacity, analysts said.
The 14,000 TEU vessels are eco-friendly, energy efficient and may save the company NT$2 bil- lion (US$64.10 million) in fuel costs this year, Yang Ming Marine said.
Last year, its major competitor Evergreen Group ( ) signed agreements to charter five 14,000 TEU vessels from Japanbased Shoei Kisen Kaisha Ltd. and another five of the same capacity from Greece-based Costamare Inc.
The 10 vessels are scheduled to be delivered in 2016 and 2017.