Evergreen to spend up to $2.87 billion on new LNG-powered containership order

LNG Prime reported last month that Evergreen has chosen South Korea’s Samsung Heavy Industries and China’s Guangzhou Shipyard International (GSI) to build 14 LNG dual-fuel container vessels, each with a capacity of 14,000 teu.

Evergreen confirmed these orders in two filings to the stock exchange on Wednesday, saying that its board of directors has resolved to acquire these units.

Each yard will build seven LNG dual-fuel vessels.

According to Evergreen, the container vessels at both GSI and Samsung Heavy will each cost between $175 million and $205 million.

This put the total price between $2.45 billion and $2.87 billion.

Evergreen did not provide further details.

Earlier this year, Evergreen ordered 11 LNG dual-fuel containerships with a capacity of 24,000 teu from South Korea’s Hanwha Ocean and China’s Guangzhou Shipyard International (GSI).

Hanwha Ocean will build six vessels, while GSI will build five LNG dual-fuel vessels.

The six ultra-large LNG dual-fuel containerships at Hanwha Ocean are worth about $1.6 billion, or $266 million per ship.

Hanwha Ocean will deliver these ships by March 2028.

This is the first order for LNG dual-fuel vessels for Evergreen, which has previously mainly focused on ordering methanol-powered ships.