Yang Ming to Charter Four More 11,000 TEU New Container Ships

11 April 2019

Yang Ming Marine Transport Corp. (Yang Ming) and Shoei Kisen Kaisha Ltd. (Shoei Kisen) signed charter agreements for four 11,000 TEU containerships yesterday (10th April, 2019) in Hong Kong. During the ceremony, the time-charter agreements were signed by Yang Ming’s Chairman Bronson Hsieh and Shoei Kisen’s President Yukito Higaki. The four new vessels will be delivered in the first three quarters of year 2022.

In order to enhance the company’s mid- to long-term operational efficiency and competitiveness, Yang Ming continues its fleet optimization plan during recent years. In addition to these four new 11,000 TEU containerships, Yang Ming had ordered another ten 11,000 TEU newbuildings through long-term charter agreements with Owners Costamare and Shoei Kisen since 2018, which will enable Yang Ming to have a total of fourteen 11,000 TEU newly-built full containerships during the years 2020 to 2022. These eco-type newbuildings with modern designs will gradually replace some of Yang Ming’s high-cost, older ships.

The IMO (International Maritime Organization) regulation on limiting sulphur content of bunker fuel will be enforced from year 2020. Every carrier has prepared accordingly to ensure a smooth transition in operation next year. All the newbuildings Yang Ming has ordered are designed in compliance with the IMO regulation with lower bunker consumption. With the new ships which will mitigate the pressure of high bunker prices and increased operating costs following the implementation of IMO 2020, Yang Ming will become more cost-competitive and environmentally friendly in the future.

Yang Ming Group press release