The Taiwanese container liner shipping company Yang Ming Marine Transport is relying on 20,000-TEU ships for the first time.
The company’s CEO, Tsai Feng-ming, has now revealed to journalists that Yang Ming intends to expand its fleet by more than 70% to 1.3 million TEU by 2032.
The company has so far been reluctant to build 20,000 TEU ships. As a result, Yang Ming is the only member of the “Premier Alliance” that does not have these megamax container ships, which means a cost disadvantage for the company. Following the departure of Hapag-Lloyd, the newly formed alliance now includes the shipping companies ONE, Yang Ming and HMM.
The manager emphasized: “We have drawn up a medium to long-term shipbuilding plan, which will be presented to our directors for discussion. Our goal is to have a fleet of 1.1 to 1.3 million TEU by 2032, which is a 60% growth from our current fleet.”
The industry service Alphaliner lists Yang Ming in 10th place with a fleet of 711,393 TEU, consisting of 59 owned and 39 chartered vessels.
In April 2024, Yang Ming dropped one place in the ranking of liner shipping companies, as the company was overtaken by the Israeli Zim Line due to its passive fleet expansion.
The largest ships in Yang Ming’s fleet are 15,000-TEU vessels. In March, the carrier announced plans to acquire up to six 8,000 TEU vessels and up to seven 15,000 TEU vessels. Currently, Yang Ming has ordered five 15,500 TEU vessels from HD Hyundai Heavy Industries, which are scheduled for delivery in 2026.
Alluding to Yang Ming’s drop in the rankings, Tsai said he wanted to consolidate the company’s position among the top 10 liner operators. “The economies in South America, the Middle East and the Indian subcontinent are growing. We also need to create additional capacity in these markets.”
Yang Ming’s Taiwanese competitor, Wan Hai Lines, is approaching tenth place with its more aggressive newbuilding orders. Wan Hai, currently in 11th place, has ordered 34 vessels of 381,716 TEU and, combined with its own fleet of 515,164 TEU, is in a position to overtake Yang Ming. (PL)
