Taiwan’s Yang Ming Marine Transport has signed a shipbuilding deal with South Korea’s HD Hyundai Heavy Industries for the construction of five LNG-powered containerships.
LNG Prime reported on May 22, citing shipbuilding sources and brokers, that Yang Ming picked Hyundai Heavy to build the five LNG dual-fuel containerships.
The two firms signed the deal for five 15,500-teu vessels on May 31, according to a statement by Yang Ming.
These new vessels will join Yang Ming’s fleet in 2026, as part of its mid to long-term fleet plan, the firm said.
Yang Ming to pay $937 million for the vessels
Yang Ming has not revealed the price tag of the deal, but HD Korea Shipbuilding & Offshore Engineering announced the order in a stock exchange on Thursday.
According to Hyundai Heavy’s parent, Yang Ming will pay about $937 million for the five vessels, or $187 per ship.
Yang Ming said the vessels will feature high-pressure LNG dual fuel main engine and ballast water treatment system to meet the latest environmental regulations.
In addition, these vessels will have an advanced integrated system for navigational information and operation monitoring, as well as broadband maritime satellite system, it said.
Yang Ming’s current operating fleet comprises 94 vessels, with a capacity of about 715,000 teu.
With these five LNG dual-fuel container vessels, Yang Ming will optimize its fleet, reduce operating costs, and also improve carbon emission reduction, it said.