Yang Ming All Set to Rejuvenate Fleet with 20 Boxships

Taiwanese shipping company Yang Ming Marine Transport Corporation has received a green light from its board to move forward with the fleet renewal plan announced late last year.

Under the plan, Yang Ming will order the construction of ten 2,800 TEU containerships and charter ten 11,000 TEU containerships.

“The price and the counterparty will be announced in accordance with the provisions after the contract is signed,”
Yang Ming said on Monday in a regulatory filing.

The new ships will replace the vessels which are about to be off-hired or retired in the next 2 to 3 years.

Investment in new tonnage comes on the back of the company’s cash-raising initiatives from last year.

At the end of November 2017, Yang Ming said it was preparing to launch a second private placement, targeting around USD 87 million.

The first private placement was announced in February the same year when the company set out to collect USD 54.8 million in an effort to strengthen its finances under the recovery plan.

Furthermore, in 2017 Yang Ming secured a cash injection worth USD 200 million from a rights offering.

World Maritime News Staff; Image Courtesy: Seaspan

Share this article

Follow World Maritime News

Posted on February 13, 2018 with tags .

In Depth>

Events>

<< Feb 2018 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 1 2 3 4

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Shippax Ferry Conference 2018

The two-day onboard ferry conference was first organized in 2003 and grows ever more popular with some 400 delegates from over 40 ferry…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >