News / Evergreen chief says huge investment in new box ships will pay dividends

Evergreen president Eric Hsieh has defended the carrier’s decision to invest heavily in newbuilds, particularly a 2019 order for a dozen 24,000 teu containerships when freight rates were depressed.

Mr Hsieh told shareholders the delivery of the ships, between now and 2023, was well-timed to benefit from the current spike in freight rates.

He said the ships, under construction at Samsung Heavy Industries, Hudong-Zhonghua Shipbuilding and Jiangnan Shipyard, would be deployed on Asia-Europe routes, strengthening the Taiwanese carrier’s market share in this ...