Yang Ming Marine Expands Fleet with New Methanol Ships
Taiwan’s Yang Ming Marine Transport has finalized a significant deal with Japan’s Shoei Kisen for the construction of three new methanol dual-fuel-ready containerships. This strategic acquisition, valued between $339 million and $360 million, is part of Yang Ming’s broader initiative to modernize its fleet. The new vessels, currently being built at Imabari Shipbuilding, are expected to be delivered in 2028 and 2029.
Strategic Fleet Modernization
The acquisition of these three 8,000 TEU (Twenty-foot Equivalent Unit) vessels marks a pivotal step in Yang Ming’s fleet expansion strategy. The company aims to replace its aging fleet, which includes ships over 20 years old, with newer, more efficient models. This move follows Yang Ming’s announcement late last year to introduce up to 13 newbuildings ranging from 8,000 TEU to 15,000 TEU. The company emphasized that this deal represents the first phase of its modernization plan, which will continue in accordance with internal procurement procedures to ensure long-term fleet stability and service quality.
Prior to this latest agreement, Yang Ming operated nearly 100 vessels, with 59 of those owned outright. The company is also expecting the delivery of five additional 15,500 TEU newbuilds in 2026. In recent months, Yang Ming has been gradually expanding its fleet with modern secondhand neo-panamax tonnage, but this marks its first commitment to newbuildings since May 2023. The introduction of methanol dual-fuel technology aligns with the industry’s shift towards more sustainable shipping practices, positioning Yang Ming as a forward-thinking player in the maritime sector.
