Evergreen Expands Fleet with $1.47 Billion Order for New Container Ships
Taiwanese shipping giant Evergreen Marine has announced a significant expansion of its fleet, placing orders for 23 new container ships valued at up to $1.47 billion. This move marks a continuation of the company’s multi-year strategy to enhance its shipping capabilities. The new vessels will be constructed at two Chinese shipyards: CSSC Huangpu Wenchong Shipbuilding and Jiangsu New Yangzi Shipbuilding, both part of the Yangzijiang group.
The latest order includes a combination of feeder and mid-size vessels. Evergreen’s subsidiary, Evergreen Marine Asia, has ordered 16 feeder ships, each with a capacity of approximately 3,100 twenty-foot equivalent units (teu) from CSSC Huangpu Wenchong. Additionally, the company has secured contracts for seven post-Panamax vessels, each capable of carrying 5,900 teu, from Jiangsu New Yangzi Shipbuilding. The pricing for these new ships varies, with the post-Panamax units estimated between $67 million and $82 million each, totaling between $469 million and $574 million for the seven ships. The feeder vessels are priced between $46 million and $56 million each, bringing their total value to between $736 million and $896 million.
Strategic Fleet Growth Amidst Competitive Landscape
This latest order follows Evergreen’s strategic decision made last October to diversify its fleet expansion efforts between China and South Korea. At that time, the company ordered 14 LNG dual-fuel ships, each with a capacity of 14,000 teu, from Guangzhou Shipyard International and Samsung Heavy Industries. This deal, valued at approximately $2.8 billion, is set for delivery between 2028 and 2030. Earlier this year, Evergreen also confirmed orders for 11 ultra-large containerships, each with a capacity of 24,000 teu, from Hanwha Ocean and CSSC Guangzhou Shipyard International, with a total program value estimated between $2.91 billion and $3.25 billion.
Currently, Evergreen ranks as the seventh-largest container carrier globally. Prior to this latest order, the company operated a fleet of around 240 boxships, with over 50 newbuildings already on order for delivery in the coming years. This aggressive expansion strategy underscores Evergreen’s commitment to maintaining a competitive edge in the rapidly evolving maritime industry.
As the shipping sector continues to face challenges and opportunities, Evergreen’s substantial investments in new vessels reflect its proactive approach to meet growing demand and enhance operational efficiency. The delivery dates for the newly ordered ships have yet to be disclosed, but the company’s ongoing fleet expansion signals a robust future in container shipping.
