Taiwan’s Yang Ming Marine Transport is inviting bids for the construction of five LNG-powered containerships, as part of its fleet renewal program.
In April, the shipping firm decided to order five 15,000-teu LNG-powered containerships.
With this move, Yang Ming will become the first shipping company in Taiwan that owns LNG-powered containerships.
The firm launched the tender for the five LNG-powered ships on August 16. The tender closes on September 6, according to tender documents posted on Yang Ming’s website.
Yang Ming said the Neopanamax vessels would be about 366 meters long and 51.2 meters wide.
They would be equipped with LNG dual-duel engines.
Yang Ming expects to take delivery of the first vessel in the first half of 2025 and the fifth ship in the first half of 2026.
Looking at current prices, Yang Ming could pay at least $180 million or more per vessel.
The firm previously said that it chose LNG as fuel in order to comply with IMO’s stricter emissions rules and the Fit for 55 package, part of the European Commission’s green deal.
By choosing LNG, the company expects to reduce GHG emissions by at least 20 percent, as compared to using traditional fuel, it said.
As of August 2022, Yang Ming operates a fleet of 95 vessels with a capacity of 700,000 TEUs, its website shows.
The firm is also part of The Alliance, a shipping consortium that includes Hapag-Lloyd, ONE, and HMM.