Taiwanese shipping companies Wan Hai Lines and Yang Ming are joining the ongoing ordering spree in the container shipping sector with substantial fleet investments.

Wan Hai Lines has placed orders for up to twenty methanol dual-fuel container vessels at South Korean and Taiwanese shipyards. On August 12, 2024, the company signed a letter of intent (LOI) for twelve methanol dual-fuel container vessels through Wan Hai Lines (Singapore). Each vessel, with a capacity of around 8,000 TEU, will be constructed by CSBC Corporation in Taiwan, with costs ranging from US$102.5 million to US$124 million per unit, totalling between US$1.23 billion and US$1.98 billion. Additionally, Wan Hai signed another LOI for four 8,700 TEU methanol dual-fuel boxships to be built at HD Hyundai Samho shipyard in South Korea, with an estimated total cost of US$454 million to US$521.64 million.

Simultaneously, Yang Ming has authorised the purchase of two long-term chartered 11,000 TEU vessels, adding to its earlier acquisitions of five 14,000 TEU and three 11,000 TEU vessels.

“This purchase will strengthen service competitiveness and streamline fleet resources,” Yang Ming said while disclosing financial results for Q2. “Furthermore, it will help address emission reduction requirements and provide flexibility for future environmental retrofitting needs, ensuring compliance with regulatory and technical standards. Yang Ming will continue its fleet optimization plan with energy-efficient and alternative-fuel-powered vessels to support the Company’s mid- to long-term business development.”

Yang Ming consolidated revenues in Q2 stood at US$ 1.65 billion, up by 50% from the same period of last year. The company’s after-tax net profit at US$ 435.6 million and the consolidated revenues for the first half of 2024 reached US$ 3.02 billion, up by 34% from the same period of last year.

This move adds to the recent spree of fleet investments by major players such as Seaspan, which revealed orders for 27 new container ships, along with industry giants Maersk, MSC, and CMA CGM.

Read more: MSC resumes fleet build-up with 12 LNG-fuelled mega ships as liners ignite ordering frenzy

 Maersk to add up to 60 dual-fuel ships, announces turn to bio-LNG

Taiwanese shipping companies Wan Hai Lines and Yang Ming are joining the ongoing ordering spree in the container shipping sector with substantial fleet investments.

Wan Hai Lines has placed orders for up to twenty methanol dual-fuel container vessels at South Korean and Taiwanese shipyards. On August 12, 2024, the company signed a letter of intent (LOI) for twelve methanol dual-fuel container vessels through Wan Hai Lines (Singapore). Each vessel, with a capacity of around 8,000 TEU, will be constructed by CSBC Corporation in Taiwan, with costs ranging from US$102.5 million to US$124 million per unit, totalling between US$1.23 billion and US$1.98 billion. Additionally, Wan Hai signed another LOI for four 8,700 TEU methanol dual-fuel boxships to be built at HD Hyundai Samho shipyard in South Korea, with an estimated total cost of US$454 million to US$521.64 million.

Simultaneously, Yang Ming has authorised the purchase of two long-term chartered 11,000 TEU vessels, adding to its earlier acquisitions of five 14,000 TEU and three 11,000 TEU vessels.

“This purchase will strengthen service competitiveness and streamline fleet resources,” Yang Ming said while disclosing financial results for Q2. “Furthermore, it will help address emission reduction requirements and provide flexibility for future environmental retrofitting needs, ensuring compliance with regulatory and technical standards. Yang Ming will continue its fleet optimization plan with energy-efficient and alternative-fuel-powered vessels to support the Company’s mid- to long-term business development.”

Yang Ming consolidated revenues in Q2 stood at US$ 1.65 billion, up by 50% from the same period of last year. The company’s after-tax net profit at US$ 435.6 million and the consolidated revenues for the first half of 2024 reached US$ 3.02 billion, up by 34% from the same period of last year.

This move adds to the recent spree of fleet investments by major players such as Seaspan, which revealed orders for 27 new container ships, along with industry giants Maersk, MSC, and CMA CGM.

Read more: MSC resumes fleet build-up with 12 LNG-fuelled mega ships as liners ignite ordering frenzy

 Maersk to add up to 60 dual-fuel ships, announces turn to bio-LNG