November 27, 2022

MarineCurrents

Current Maritime News | Clean Energy

Yang Ming has high potential to launch its shipbuilding plan this year

3 min read
marine-news-Yang Ming illustration Only

The order book of Yang Ming Marine Transport, which has attracted much attention from the shipping industry, is expected to start officially this year.

Yang Ming Marine Transport confirmed last July that it would carry out a shipbuilding plan in order to coordinate with the adjustment of the routes of THE Alliance.

The details of newbuild plan are not yet revealed

It is evaluating the construction of 23,000-24,000 TEU ultra-large containerships to maintain its relative position in the global maritime industry. At that time, it is believed that Yang Ming estimated that it would build 13,000 to 15,000 TEU containerships first. The 24,000 TEU ultra-large containerships may be listed in the next ordered batch.

According to news from Taiwan’s media, Yang Ming’s ship booking plan would be finalized by the board of directors on that day, planning to build 15 new 15,800 TEU Panamax containerships and another 5 to 6 24,000TEU ships. Some of the ships will be under long-term leases, and part of the construction is self-funded. However, Yang Ming Marine subsequently issued a clarification announcement on the evening of the same day, denying the above news.

On December 15, Taiwan media also stated that Yang Ming will propose to the board of directors a plan to order 12 15,800 TEU dual-fuel container ships. The total investment is estimated to exceed US$2 billion. If passed smoothly, it will become the first Asian company to build this type of boxship. However, Yangming Shipping quickly “refuted the rumors” again in the afternoon of the same day.

marine-news-2021 global alliances-source shipuwl
2021 Global Alliances-Source Shipuwl

Yang Ming Marine: Shipbuilding plan to be launched this year

Industry insiders pointed out that the current ship prices are high due to multiple reasons. Under the risk of management and control, shipbuilding in batches is a more appropriate approach.

In fact, Yang Ming has a high demand for building 10,000 TEU boxships. Among the top ten shipping companies in the world, only Yang Ming has not placed an order this year. The current orders are less than 100,000 TEU, and no new containerships are on the list to be delivered after 2023. In addition, Yang Ming is also the only member of the three major maritime alliances that does not have 20,000 TEU containerships.

According to Alphaliner’s data, Yangming Shipping currently operates 90 container ships in its fleet, including 50 owned ships and 40 chartered ships, with a total capacity of approximately 662,000 TEU, ranking 9th in the world. The member company with the least capacity in China. In addition, Yang Ming has 5 containerships on orders with a total of 59,300TEU, accounting for only 9% of its existing fleet.

On the 49th anniversary celebration, Chairman Zheng Zhenmao also stated that starting from June 2020, Yang Ming’s monthly revenue has increased for 18 consecutive months, and since August 2021, it has exceeded the monthly revenue of NT$30 billion. The good results have also greatly improved the financial situation of Yang Ming. As of the third quarter of 2021, the debt ratio has dropped to 45% and the current ratio has increased to 276%.

According to the financial report from Yang Ming, the profit of Yang Ming Marine has soared, and the net profit after tax in the first three quarters exceeded NT$100 billion.

Source eworldship

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