Evergreen Orders 23 New Containerships In $1.47bn Fleet Expansion

Evergreen Marine Corporation of Taiwan has approved an order for 23 new container vessels worth up to $1.47bn.

The decision was approved on 27 January by the board of Evergreen Marine (Asia) Pte. Ltd., the company’s subsidiary.

The order includes seven container ships with a capacity of 5,900 teus, to be built at Jiangsu New Yangzi Shipbuilding, and 16 feeder vessels of 3,100 teus, which will be constructed at CSSC Huangpu Wenchong Shipbuilding.

According to regulatory disclosures, the 5,900 teu vessels are priced between $67m and $82m per ship, giving a total contract value of $469m to $574m.

The 3,100 teu vessels are valued at $46m to $56m each, with the total price ranging from $736m to $896m.

Evergreen reported that both contracts were agreed at market rates and that the shipyards involved are not related to the company.

The carrier currently operates 239 vessels with a combined capacity of around 1.9m teus, including 162 owned ships and 77 chartered vessels.

Industry data from Alphaliner ranks Evergreen as the seventh-largest container shipping company worldwide by capacity.

With the addition of the newly ordered vessels, Evergreen’s orderbook rises to 76 ships totalling about 925,000 teus, which represents 47.3% of its existing fleet capacity.

Market estimates place the value of Evergreen’s total newbuilding commitments at more than $11bn.

Industry observers say ships in the 3,100 teu and 5,900 teu range provide greater flexibility as trade routes change and congestion continues at major ports.

Evergreen Group began operations in 1968 and now operates container services across five continents. The latest investment is part of the company’s ongoing plan to renew and expand its fleet to meet future trade demand.

References: containertracking, indexbox