Yang Ming Sets to Build LNG Vessels

15 April 2022

Yang Ming Marine Transport Corporation (Yang Ming) held its 372nd Board Meeting today (15th April) to approve that, the five new 15,000 TEU vessels authorized at 368th Board Meeting on 14th January, would be equipped with dual-fuel LNG marine engine.

Yang Ming will be the first shipping company in Taiwan that owns LNG-powered container ships. The shipbuilding plan is set to strengthen the Companyís mid- to long-term operational competitiveness and accelerate fleet renewal plan. By using clean energy, Yang Ming has taken another step to address climate change and move on to low-carbon transitions, thereby protecting Mother Earth in the years to come.

Yang Ming develops its fleet deployment plan based on business projection and international environmental laws and regulations. As stricter regulations are being enforced globally to achieve zero emission, the Company is factoring in the following benchmarks when determining choice of fuel types.

They include IMOís Carbon Intensity Indicator (CII) for annual decrease in emission intensity, and the Fit for 55 package, being part of the European Commissionís Green Deal, to reduce EUís total GHG emissions by up to 75% by 2050, and the recommendation of applying a well-to-wake approach in GHG accounting of maritime transport.

In the spirit of environmental sustainability, Yang Ming is using LNG for the new fleet on account of its relatively mature low-carbon technology. By so doing, the Company expects to reduce GHG emissions by at least 20%, as compared to using traditional fuel. In all, Yang Ming is fulfilling its objective on environmental sustainability while stepping up competitive edge for the entire fleet.

Yang Ming Group press release