Yang Ming readies order for six LNG dual-fuel boxships

The company’s board of directors signed off on the plan, clearing the way for six LNG dual-fuel neo-panamaxes, intended to replace older ships and vessels nearing the end of charter contracts in the 4,250 teu to 6,500 teu range.      The move forms part of the carrier’s long-term fleet strategy aimed at strengthening its position in the main east–west trade lanes.

Yang Ming said the 13,000 teu design is well-suited to its existing fleet structure and will complement the company’s 10,000 teu ships. The vessels are expected to become a core part of its services linking Asia with North America, South America and the Mediterranean.

Yang Ming is targeting a fleet of 124 ships and a total operating capacity of around 1.25m teu by 2032, alongside a global container market share of between 3% and 3.5%.

The Taipei-listed company currently operates close to 100 vessels and has an orderbook of nearly 20 ships. In recent years, Yang Ming has gradually expanded its fleet through a mix of secondhand neo-panamax acquisitions and newbuilding orders.

Last year, the world’s 9th and Taiwan’s second-largest box carrier also contracted a series of 8,000 teu ships in Japan and 15,000 teu vessels at yards in South Korea as part of the same fleet modernisation programme. The shipyard of choice and potential price tag for the latest series have yet to be disclosed