Taiwanese container line Yang Ming Marine Transport has received approval to proceed with a major fleet expansion plan.
Under the plan, the company will order ten 2,800 teu containerships and charter in ten 11,000 teu containerships. The shipyard and the charterer have yet to be announced.
Last year, Yang Ming announced a fleet optimisation plan in which the company will bring in new vessels to replace 20 chartered vessels expiring in the next three years. The new vessels are expected to support the company’s international expansion plans.
Yang Ming currently operates a self-owned fleet of 47 containerships with an average age of 10 years.