Tuesday, June 24, 2025
Home Most Popular Evergreen splashed out on containers again

Evergreen splashed out on containers again

Evergreen Marine Corporation has ordered 12,500 containers from Singamas Container Holdings for US$34.3 million, as the Taiwanese liner operator works towards expanding its business, despite the weak market conditions.

In January, Evergreen’s general manager Eric Hsieh unveiled plans to order 40,000 more containers – after having spent US$51.53 million on 9,800 new dry containers and 6,171 used boxes from Evergreen’s Singapore subsidiary in 2022. Last year, Evergreen also spent US$65.24 million to buy 7,800 reefers from Dong Fang International Container.

Evergreen also purchased its Singapore unit’s office for US$32 million to operate its own agency in the South-east Asian city-state, as the group expects delivery of 51 ships over the next two years.

Hsieh appeared to have been optimistic because of the pick-up in freight rates just before the Chinese New Year holiday, saying that Evergreen vessels on the Transpacific were fully loaded and lines attempted to impose a general rate increase (GRI) of US$1,000-$2,000 per FEU that month.

Hsieh had acknowledged there were long-running concerns about overcapacity. Alphaliner has forecast container shipping supply to grow by about 8% in 2023, with demand rising by just 2.7%. He said then, “We aren’t worried by the recent correction in container freight rates and we’re sticking to our expansion plans to boost our competitiveness.”

However, Hsieh thinks that stricter environmental regulations, such as the need for owners and operators to start meeting the requirements of the Carbon Intensity Indicator (CII), could remove about 10% of capacity from the market. The tonnage overhang therefore “may not be as serious as imagined”.


Martina Li
Asia Correspondent





Latest Posts

Maritime Geopolitics is now the market

In the once-quiet engine room of globalization maritime logistics a silent revolution is underway. According to maritime strategist Punit Oza, advances in port productivity have...

Cavotec unveils flexible shore power solution

Cavotec has launched PowerAlign, a new modular and mobile shore power solution purpose-built for container terminals. The unveiling took place at TOC Europe 2025 in...

Latvia and Germany strengthen maritime innovation ties

Public and private sector partners from Latvia and Germany have signed a Memorandum of Understandin in Hamburg this week to boost cooperation in digital...

Kota Oasis makes inaugural call at Lomé

PIL has announced that its latest “O”-Class vessel, Kota Oasis, made its inaugural call at the Port of Lomé, Togo. Following a successful first stop...

MSC reaches capacity milestone further cementing its position

MSC has crossed a significant milestone, with its total container fleet capacity exceeding 6.6 million TEUs, securing a commanding 20.5% share of the global...
error: Content is protected !!