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Container Shipping & Trade

Container Shipping & Trade

Yang Ming signs charter agreements for eco-friendly newbuilds

Fri 06 Jul 2018 by Rebecca Moore

Yang Ming signs charter agreements for eco-friendly newbuilds
Yang Ming has struck charter agreements for 10 energy-efficient newbuilds. Credit: Jaxport/Jeff Price

Yang Ming Marine has entered into charter agreements with Shoei Kisen Kaisha for five 11,000 TEU container ships and with Costamare for another five 12,000 TEU container ships.

The charter agreements were signed by Yang Ming president Vincent Lin, Shoei Kisen Kaisha president Yukito Higaki and Costamare chief executive Konstantinos Konstantakopoulos.

All 10 chartered container ships will be newbuilds, due to be delivered from Q2 2020 through to Q3 2021.

Yang Ming said the vessels are designed to comply with the low sulphur regulations calling for efficient bunker consumption. A statement said “The chartered newbuilds will emit less carbon, use fuel oil containing limited sulphur, and will be equipped with a more efficient ballast water treatment system. Under the growing public awareness of environmental issues, the new ships will also enable Yang Ming to be more competitive in the container shipping industry.”

The design of these new ships will be based on the twin-island concept. Yang Ming said they will be similar to the main ultra large container ships deployed in current Far East-North Europe services which accommodate more containers by increasing navigational visibility, the permissible height of container stacks on deck, and the cargo loading capacity. Moreover, the ships’ length and beam are shorter than 20,000 TEU, making it easier to manoeuvre during berthing or departure. “With the new dimensions, the ships are subject to no restrictions from main calling ports worldwide, are able to pass through new Panama Canal, making them highly flexible for deployment in long-haul and middle-haul service trade lanes,” said Yang Ming.

Yang Ming currently operates a fleet of 106 container ships with a total capacity of over 600,000 TEU. To reduce its higher operating cost and mitigate environmental impact of the older ships, it has an ongoing fleet renewal programme to replace older ships upon the expiry of their charter agreements and further review the old, high fuel consumption, non-eco fleet.

Yang Ming said that with the new container ships, it will “significantly optimise its fleet efficiency, enhance its competitiveness, and continue to provide its quality services”.

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