Yang Ming Marine ex­pand­ing fleet with big­ger ves­sels

The China Post - - BUSINESS -

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

equiv­a­lent

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.

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