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Yang Ming buys more chartered ships

Taiwanese liner operator Yang Ming Marine Transport continues to expand its owned fleet by prematurely ending the charters of two 12,000 TEU ships.

The company said in a Taiwan Stock Exchange filing that it has paid US$186 million for the
ships, barely three years into the 10-year period charter.

Yang Ming did not identify the ships, except to say that the vessel owners were Paraiso Shipping, a Panama-incorporated special purpose vehicle of Japanese shipbuilder Imabari Shipping’s tonnage provider affiliate, Shoei Kisen Kaisha, and I-S Container, which is partly owned by Imabari and Century Tokyo Leasing Corporation.

According to VesselsValue, the ships are the 2021-built YM Trust and the 2022-built YM Trophy.

These are the seventh and eighth ships that Yang Ming purchased in such a way, since 2023.

Many liner operators are now cash-rich after the Covid-19-fuelled boom and the Red Sea crisis. Yang Ming now has cash holdings of over US$2 billion. The other ships were also acquired from Shoei Kisen-controlled entities and I-S Container.

In May, Yang Ming acquired three 12,000 TEU ships, YM Together, YM Throne and YM Trillion, for US$297 million. It is likely that the ocean carrier received a competitive price for the ships, which have market values of around US$140 million each. In August 2023, Yang Ming bought three 14,000 TEU ships, YM Warranty, YM Wellspring and YM Wellbeing, for around US$310 million.

Yang Ming, which recently had a new management team, is understood to be reviewing newbuilding orders for 24,000 TEU ships.


Martina Li
Asia Correspondent





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