News / Yang Ming aims to boost market share with more ships and port investment

YM Mobility. Photo: VesselFinder

Taiwanese shipping line Yang Ming is to order more newbuildings, aiming to grow its fleet to 1.25m teu by 2032, and acquire more box terminals, all to boost market share.

The new orders represent a 70% expansion of its current fleet of 716,007 teu.

Speaking at Yang Ming’s 53rd anniversary celebration, chairman Chuck Tsai Feng-Ming said the company needed to increase its market share.

He said: “Although market changes and policy risks are difficult to predict, our strategy is to strengthen our core business. We will acquire more containers and terminals to grow our business volume and market share.

“We will also accelerate digital transformation to be more competitive.”

Under Dr Tsai, Yang Ming, the ninth-largest liner operator, is determined to avoid losing out to its ambitious compatriot peer, 11th-ranked Wan Hai, which owns all 118 of its operated ships, for 582,420 teu, and its orderbook stands at 38 ships, for 390,800 teu.

Yang Ming currently has 18 containerships on order, ranging from 8,000 to 16,000 teu, being built at Imabari Shipbuilding in Japan, HD Hyundai Heavy Industries, and Hanwha Ocean in South Korea. This year, it will take delivery of five of 15,500 teu.

The Taiwanese shipping line’s current fleet comprises 59 owned ships, of 333,691 teu, and 38 chartered vessels, of 382,316 teu. The vessels on order add up to 236,660 teu.

To raise its fleet to 1.25m teu, Yang Ming will need to acquire or build another 297,340 teu of ships.

The Taiwanese line is expected to eventually commission some 20,000 teu ships; Dr Tsai said last year Yang Ming would require such vessels. Yang Ming is the only member of the Premier Alliance (which also includes HMM and ONE) that does not have ships of this size.