Yang Ming earmarks $560m for big ships

Keelung: Yang Ming Marine Transport, Taiwan’s second largest containerline by fleet size, is considering ordering new container vessels to expand its scale and achieve higher efficiency.

Yang Ming chairman Frank Lu said the company was planning to order five large vessels from 14,000 teu to 16,000 teu later this year worth approximately US$560m as shipbuilding costs fall because of the global economic downturn. The proposal will need to be approved by Yang Ming’s board of directors in a meeting at the end of the month.

Yang Ming also wants to form a partnership with Sinotrans, the leading Chinese logistics and transportation service provider, to better tap into China’s logistics industry, according to Yang Ming president Robert Ho.  [18/06/12]

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