The Taiwanese shipping company Yang Ming is expanding its fleet by six container ships. The LNG-powered dual-fuel newbuilds are intended to replace the company’s older vessels.
The order was approved at the shipping company’s most recent board meeting. Yang Ming announced that the company is continuously adapting to economic and trade policy developments. The company will continue to offer “comprehensive and efficient” global transportation services. The newbuildings will each have a capacity of 13,000 TEU and will connect ports in Asia with the east and west coasts of North America. They will also be deployed in South America and the Mediterranean.
“The aim is to achieve the medium to long-term goals of a fleet of 124 ships with an operating capacity of 1.25 million TEU and a market share of 3.0% to 3.5% of the global container market by 2032,” Yang Ming announced. In order to achieve these goals, the company is now strengthening its competitiveness and optimizing its service network. The shipping company currently has a capacity of just under 725,000 TEU and a market share of 2.1%. This puts Yang Ming in 9th place in the global ranking of liner shipping companies, immediately ahead of the Israeli shipping company Zim.
The shipping company’s fleet planning for the next generation of ships includes the replacement of obsolete units and expiring charter contracts. This concerns ships with capacities of 4,250 to 6,500 TEU. The newbuildings will strengthen the “operational advantages” on the company’s most important routes, according to the statement: “The new 13,000 TEU class is optimally compatible with the existing 10,000 TEU fleet and will form the backbone of Yang Ming’s East-West connections.”
Thanks to “advanced energy-saving technologies”, the ships will have reduced fuel consumption and emit fewer greenhouse gases than comparable units. The switch to LNG dual-fuel propulsion is in line with Yang Ming’s goal of gradually reducing the fleet’s CO2 intensity.
