Saturday, June 28, 2025
Home Most Popular Taiwanese government to back Yang Ming’s fleet expansion

Taiwanese government to back Yang Ming’s fleet expansion

Taiwan’s Transportation and Communications Minister Li Meng-yen said at a press conference on 30 July that with Yang Ming Marine Transport’s change of management, the government will support the mainline operator to commission more newbuildings to boost its fleet.

Li noted that Yang Ming had been less active in ordering newbuildings, resulting in the Taiwanese operator being relegated from eighth to 10th in the market rankings. The Taiwanese state, through the Ministry of Transportation and Communications and National Development Fund, is Yang Ming’s largest shareholder.

Yang Ming appoints new Chairman

In May, after releasing Yang Ming’s 1Q 2024 results, the company’s then general manager, Patrick Tu, said the company would look into building 24,000 TEU ships, as it cannot keep depending on the capacity of its fellow THE Alliance members.

Except for Yang Ming, THE Alliance’s current members, Hapag-Lloyd, Ocean Network Express (ONE) and HMM all have 24,000 TEU ships. Hapag-Lloyd is set to leave the grouping to form Gemini Cooperation with Maersk Line in February 2025, threatening THE Alliance’s competitiveness.

Today, Dr. Tsai Feng-ming, formerly a professor at National Taiwan Ocean University, and Yang Ming’s current chief strategy officer, Cliff Pai, will take over from Cheng Cheng-mount and Tu as the company’s chairman and GM.

In May 2023, Yang Ming ordered five LNG dual-fuelled 15,500 TEU ships at HD Hyundai Heavy Industries. The ships are expected to be delivered from 2026 and are the only newbuildings in Yang Ming’s books.

Li said: “Yang Ming’s former chairman, Cheng, turned around the originally sluggish business with a substantial increase in profits and accumulated many assets for the company. Now that the tasks have been completed, the new chairman Tsai will lead everyone to welcome new challenges.”


Martina Li
Asia Correspondent





Latest Posts

UWL announces vessel partnership with Emirates Shipping Line

UWL, a leading American-owned NVOCC (Non-Vessel Operating Common Carrier) and global logistics provider, welcomes Emirates Shipping Line as the new vessel partner for its...

Sea-Intelligence: Port Power Rankings

 Sea-Intelligence analyses port performance in terms of schedule reliability, across the 202 deep-sea ports with the largest number of container vessel calls, by creating...

Suez slowdown reshapes Red Sea’s port map

The macro picture of the Red Sea is worsen as canal transits are at half-mast, and the region has relinquished its role as the...

We asked AI: When containers become pools

We asked AI what a container might look like if it was trasformed into a pool. The result? Long steel containers, many of them stacked,...

Transpacific crash may normalise charter market

Containership charter rates, which have defied the freight slump for some time, could be peaking, as some small ships chartered by opportunistic operators for...
error: Content is protected !!