Yang Ming Marine Transport, one of Taiwan’s major shipping lines, said it is going to return a series of chartered ships as new mega containerships are set to join the fleet.
According to Yang Ming, it will return 12 chartered containerships with capacity ranging from 4,500 teu to 5,000 teu to owners between 2018 and 2020, while it will take delivery of seven 14,000 teu mega containerships from 2017 to 2019.
Yang Ming said the new ships, which have better operating efficacy, will further reduce the operating cost on long routes.
In late January, Yang Ming released a recapitalisation plan, which included a stock consolidation as well as the injection of fresh capital from unspecified new investors. The company said it expects “immediate benefits to its balance sheets” from the plan.
Yang Ming reported revenue of NTD31.45bn ($1.01bn) for the fourth quarter of 2016, up 8.49% year-on-year. The company said it is still facing operating challenges in the first quarter of 2017.