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Yang Ming puts its first 14,000-TEUer into Asia-Europe service

TAIWAN's Yang Ming Marine Transport, the country's No 2 container line, has launched its biggest ship into service deploying Seaspan's 14,000-TEUer, the YM Wish, from Kaohsiung Harbour, reports the Taipei Times.

Yang Ming puts its first 14,000-TEUer into Asia-Europe service
18 April 2015 - 07:18
Yang Ming puts its first 14,000-TEUer into Asia-Europe service

TAIWAN's Yang Ming Marine Transport, the country's No 2 container line, has launched its biggest ship into service deploying Seaspan's 14,000-TEUer, the YM Wish, from Kaohsiung Harbour, reports the Taipei Times.

The YM Wish, Yang Ming's biggest ship, is the first of 14 expected by the end of next year through a lease deal with Seaspan Corp, a non-operating vessel-owning company headquartered in Vancouver, but administered from Hong Kong.

"The introduction of these new vessels will help the company upgrade its fleet," said Yang Ming chairman Frank Lu.

With lower operational costs and more efficient energy usage, the 15 new vessels could help the company save up to TWD$6 billion (US$191.98 million) annually, with total savings this year expected to reach TWD$2 billion, said Mr Lu.

After the new big ships join the fleet, Yang Ming expects to transfer 8,000-TEUers on the Asia-Europe run to the transpacific to serve the US market.

Analysts generally expect Yang Ming to post stronger net profits in the first quarter compared with last year's fourth quarter, mainly due lower oil costs. Yang Ming could also enjoy strong profit growth for the full year because of other cost-savings, they said.

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