Interest hots up in Yang Ming’s expansion plans

Taipei: Both Taiwan’s CSBC and Nantong Cosco KHI Ship Engineering have submitted bids for Yang Ming’s tender for ten 14,000 teu ships. They are joined by Hyundai, Samsung and Daewoo from Korea and Imabari in Japan. At current prices the ships are thought to cost in the region of $110m per unit. Yang Ming is likely to copy compatriot Evergreen’s lead by getting a partner onboard to order the ships, which Yang Ming will then charter for an estimated $50,000 a day.

Canada's Seaspan, Korea Infrastructure Investments Asset Management Co and Greece's Niki Group have all expressed an interest in the project.

With newbuild prices expected to start ticking up Yang Ming may make its decision on expansion before year-end.  [26/11/12]

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