Taiwan’s Yang Ming picks Hyundai Heavy to build five LNG-powered containerships

Taiwan’s Yang Ming Marine Transport has picked South Korean shipbuilder HD Hyundai Heavy Industries to build five LNG-powered containerships, according to shipbuilding sources and brokers.

In April last year, the shipping firm decided to order five 15,000-teu LNG-powered containerships.

After that, it released a tender for the construction of the ships in August 2022, saying it expects to take delivery of the vessels in 2025 and 2026.

Sources said that Yang Ming was also in talks with China’s Yangzijiang Shipbuilding for the vessels, but it chose Hyundai Heavy to build the ships.

According to the sources, the vessels will feature MAN ME-GI propulsion and GTT’s Mark III Flex containment system.

It remains unclear whether the two firms have already signed the shipbuilding contracts, or they will sign them soon.

The price tag has not been revealed, but Yang Ming is expected to pay at least $180 million for each of the containerships.

With this move, Yang Ming will become the first shipping company in Taiwan that owns LNG-powered containerships.

Yang Ming said in its financial report issued on May 12 this year that its board has approved the procurement of five LNG dual-fuel container vessels, following the public and transparent international bid evaluation process.

“With these new ships, Yang Ming will be able to optimize its fleet allocation, enhance the fleet’s overall competition, and operate more sustainably and environmentally-friendly by reducing energy consumption and carbon emission,” it said.

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