News

2019 Jan 28

Yang Ming Lifts Options for 11,000 TEU Quartet, Eyes Four More Boxships

Taiwanese shipping company Yang Ming Marine Transportation has exercised an option for the long-term time charter of four additional containerships from Shoei Kisen Kaisha, the shipowning and leasing arm of Imabari Shipbuilding.

The 11,000 TEU ships would be taken by Yang Ming on a ten-year employment and the value of the deal would range USD 400-500 million in total.

Additionally, the company announced that as part of its fleet optimization plans it intends to charter in four more container vessels.

The ships would range from 9,000 to 11,000 TEU, the company said in a regulatory filing. The counterparty, duration of the charter and price terms of the charter deals are yet to be finalized and announced.

In July 2018, Yang Ming revealed the charter for ten newbuilding containerships with Costamare and Shoei Kisen.

Under the contract, the two shipowners ordered five containerships each, ranging between 11,000 and 12,000 TEU.

The newbuilds are slated to start delivery in 2020 with the last ship from the batch scheduled to be completed in 2021.

The Taiwanese shipping company was very busy with its fleet expansion efforts in 2018 having also ordered ten 2,800 TEU container vessels to boost its competitiveness.

The ten 2,800 TEU vessels were ordered from compatriot CSBC Corporation in August and are scheduled to start joining their owner in the second quarter of 2020.

Separately, Yang Ming is set to launch a new Intra-Asia service Korea–Vietnam–Malaysia Service, jointly operated by YM and APL Co. Pte Ltd through its CNC brand with effect on February 21st, 2019.

The service will be operated with three 1,800-TEU container vessels, one by YM and two by APL Co via its CNC brand.

The full port rotation will be Kwangyang, Pusan, Kaohsiung, Ho Chi Minh, Port Kelang, Singapore, Haiphong, Kaohsiung, Kwangyang. A round trip will take 21 days.

Source: www.worldmaritimenews.com

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