Taiwanese line Yang Ming Marine Transport has excised an option with Japanese owner Shoei Kisen Kaisha for the charter of an additional four 11,000 teu newbuilding containerships.
The move follows Yang Ming entering into time charter agreements for five 12,000 teu boxships and five 11,000 teu boxships with Costamare and Shoei Kisen Kaisha respectively in July last year. The vessels are currently under construction at Yangzijiang Shipbuilding and Imabari Shipbuilding, the sister firm of Shoei Kisen.
The charter period for the latest four vessels is 10 years and the total charter fee amounts to between $400m and $500m.
Additionally, the company approved a plan to charter in another four containerships ranging from 9,000 teu to 11,000 teu in size. It is currently in the middle of negotiations for the charters and no official agreements have been signed yet.