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“To accommodate ongoing business development and facilitate the renewal of its existing operating fleet, Yang Ming held its 411th board meeting today (12th) and approved a plan to add six 13,000 teu class full container LNG dual-fuel vessels,” the company said in a statement.
Yang Ming said subsequent procurement procedures would be executed in accordance with the company’s internal regulations.
However, the firm did not name the yard(s) or the pricing details.
Last year, South Korea’s Hanwha Ocean secured an order worth about $1.39 billion from Yang Ming for seven 15,880-teu LNG dual-fuel container ships.
These vessels are scheduled for delivery in 2028 and by the first half of 2029.
In May 2023, Yang Ming signed a shipbuilding deal with HD Hyundai Heavy for the construction of five LNG-powered containerships with a capacity of 15,500 teu.
Moreover, Yang Ming will pay about $937 million for the five vessels.
HD Hyundai Heavy recently held a naming ceremony for the first two of these LNG dual-fuel container vessels.
124-vessel fleet
Committed to delivering comprehensive and efficient global transportation services, Yang Ming continues to adapt to economic and trade developments, striving to achieve its mid- to long-term goals of a 124-vessel fleet, 1.25 million TEU in operating capacity, and a 3 percent to 3.5 percent share of the global container market by 2032, the company said.
To reach these targets, the company is enhancing fleet competitiveness and optimizing its service network.
Also, the strategic fleet planning project for next-generation mainstream vessels will replace aging units and upcoming charter-expiry vessels ranging from 4,250 to 6,500 TEU.
Yang Mings said the replacement aims to strengthen the operational advantages of its primary service routes.
The new-generation 13,000 TEU class is highly compatible with the existing 10,000 TEU fleet and is expected to serve as the backbone of Yang Ming’s East-West services, it said.
These vessels offer “optimal economies of scale and deployment flexibility across key trade lanes, including Asia to/from North America (both East and West Coasts), South America, and the Mediterranean.”
“With the delivery of Yang Ming’s LNG fleet beginning this year, these vessels are expected to increase the company’s low-carbon fleet ratio and strengthen its environmental competitiveness,” it said.