TAIWANESE shipping line yang Ming has followed its liner peers in ordering more containers to tide over the equipment shortage, reports UK's The Loadstar.
It has ordered 5,400 reefers at a cost of between US$35 million and $40 million, from Guangdong Fuwa Equipment Manufacturing and 7,870 dry containers from Cosco unit Dong Fang International at a price of between $50 million and $55 million.
Yang Ming however, said it had no plans to join the 'very large containership' league yet.
Local media reported that following a recent board meeting to approve the release of its H1 21 results, the Taiwanese liner operator said it would bring in 15,000 and 24,000 TEU ships through long-term charter agreements.
However, Yang Ming described the reports as speculative and said: 'Acquiring ships is important for the company's operations. We have been continuously paying attention to the shipbuilding market and energy development trends and will also co-operate with the structure of THE alliance, while considering our business development needs, ship age and ship type optimal configuration, as well as environmental regulations and other factors.'
In the first six months of the year, Yang Ming revenue was up more than four-fold on the same period last year, to $4.86 billion, with net profit of $2.12 billion reversing the net loss of $780,190 last year.
In July, former Yang Ming chairman Bronson Hsieh said in a television interview the company should build large ships to bring the proportion of its owned fleet from 31 per cent to 45 per cent to manage rising charter costs.
Yang Ming's largest ships are 14,000 TEU and the company is the only member of THE Alliance which does not have ships of at least 20,000 TEU. Its total capacity is 625,332 TEU, making it the ninth-largest liner operator.
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It has ordered 5,400 reefers at a cost of between US$35 million and $40 million, from Guangdong Fuwa Equipment Manufacturing and 7,870 dry containers from Cosco unit Dong Fang International at a price of between $50 million and $55 million.
Yang Ming however, said it had no plans to join the 'very large containership' league yet.
Local media reported that following a recent board meeting to approve the release of its H1 21 results, the Taiwanese liner operator said it would bring in 15,000 and 24,000 TEU ships through long-term charter agreements.
However, Yang Ming described the reports as speculative and said: 'Acquiring ships is important for the company's operations. We have been continuously paying attention to the shipbuilding market and energy development trends and will also co-operate with the structure of THE alliance, while considering our business development needs, ship age and ship type optimal configuration, as well as environmental regulations and other factors.'
In the first six months of the year, Yang Ming revenue was up more than four-fold on the same period last year, to $4.86 billion, with net profit of $2.12 billion reversing the net loss of $780,190 last year.
In July, former Yang Ming chairman Bronson Hsieh said in a television interview the company should build large ships to bring the proportion of its owned fleet from 31 per cent to 45 per cent to manage rising charter costs.
Yang Ming's largest ships are 14,000 TEU and the company is the only member of THE Alliance which does not have ships of at least 20,000 TEU. Its total capacity is 625,332 TEU, making it the ninth-largest liner operator.
SeaNews Turkey