Yang Ming bullish as it boasts full box ships into extended peak season
Yang Ming said on Friday that slots on its ships on the transpacific and Asia-North ...
By Alison Koo
Taiwanese mainline operator Yang Ming is expanding its fleet with a vengeance, with orders for seven 16,000 teu LNG dual-fuelled ships at Hanwha Ocean, even as frenzied commissioning takes the container ship orderbook to a 15-year high.
Yang Ming announced on Tuesday that the ships, costing $1.32bn, will be delivered from the South Korean shipbuilder between 2028 and 2029.
The Taiwanese shipping line is making provisions for a multi-fuel future, as the vessels will be ammonia-ready.
Under its current chairman, Dr Tsai Feng-Ming, who was appointed last year, Yang Ming has become more aggressive at building up its fleet, having stayed mostly conservative during the Covid-19-induced boom.
The orders suggest that Yang Ming opted to upsize the original order, which was for 15,000 teu vessels.
In July, Yang Ming made good on its earlier announcement that it would order six 8,000 teu ships and seven 15,000 teu ships. The 8,000 teu ships were contracted at Imabari Shipbuilding and Hanwha Ocean.
Explaining its reasons for having ammonia propulsion, Yang Ming said: “Its adoption in converted LNG tanks further lowers conversion costs, while its supply chain and infrastructure are relatively well-established. By enabling ammonia adoption, Yang Ming will be better positioned to comply with future international GHG regulations and reinforce its green competitiveness.”
Newcomer China-based Flex Box Shipping, understood to be a tonnage provider, has made its shipowning debut, ordering four 8,800 teu ships at HD Hyundai Samho. Costing $469m in all, the newbuilds will be delivered in July 2028.
Abu Dhabi-based AD Ports Group orders a pair of 780 teu ships at Azerbaijan’s Baku Shipyard, for delivery in late 2027.
The company plans to deploy the vessels to routes along the Caspian Sea.
AD Ports, which operates feeder services through subsidiaries Global Feeder Shipping and Safeen Feeders, has 43 in-service feeder and mid-sized ships.
Shanghai International Port Group’s intra-Asia shipping unit Shanghai Jin Jiang Shipping has ordered two 1,100 teu ships at SUMEC Marine, with options for two more vessels.
Finally, Greek tonnage provider Minerva Marine has exercised options for two more 1,800 teu ships at Yangzijiang Shipbuilding, adding to the initial pair it commissioned in July.
Excluding this week’s commissions, Linerlytica said that around 414 ships of 3.6m teu have been ordered year to date.
The orderbook-to-fleet ratio is now at 32.3%, a proportion not seen since 2010.
Over 3m teu of new ships will enter service in each of the years 2027 and 2028, a record high.
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