Yang Ming has ordered over 40,000 new containers for $120m, ahead of the delivery of several newbuildings. The containers were commissioned at China International Marine Containers (CIMC) and Guangdong Fuwa Equipment Manufacturing.
Of the containers, 22,750 were ordered at CIMC and 17,650 at Guangdong Fuwa.
Yang Ming’s directors approved the container procurement on 17 April, and the orders were placed after seeking tenders from manufacturers.
On 17 July, Yang Ming announced orders for seven 15,000 TEU ships at South Korea’s Hanwha Ocean, for delivery in 2028 and 2029. Each ship is priced at US$200 million. The Taiwanese line is fulfilling a plan, unveiled in March, to build seven 15,000 TEU ships and six 8,000 TEU ships. Three 8,000 TEU ships have been contracted at Japan’s Imabari Shipbuilding.
Yang Ming’s chairman Tsai Feng-Ming has told journalists that the company needs to rebuild its fleet to maintain its rankings. The company is now the 10th largest liner operator, losing one rung to ZIM Line, a consequence of its lack of aggression in expanding its fleet during the COVID-19-induced boom.
Yang Ming will also take delivery of five 15,500 TEU ships from HD Hyundai Heavy Industries in 2026.
Dr Tsai has said he wants Yang Ming to have 20,000 TEU ships, but has yet to disclose how many 20,000 teu ships he wants. He has ambitions of taking Yang Ming’s fleet to 1.1-1.3m teu by 2032. This, he said, will boost Yang Ming’s market share to 3%, from 2.2% currently.
Yang Ming’s current fleet stands at approximately 724,000 TEU. Based on this, and its current newbuildings, Yang Ming would need to order seven to 17 20,000 teu ships to achieve its targeted fleet size.
