Monday, January 13, 2014

More High TEU Capacity Container Vessels for World’s Fourth Largest Box Line

Ten New Ships on Charter for Evergreen
Shipping News Feature

TAIWAN – WORLDWIDE – In September we reported how Evergreen Line appeared to be committing to a new policy which ran contrary to its larger competitors by ordering new container vessels in the 8,500 TEU class, as opposed to the fashion for ships almost double this size. The shipping line now however has confirmed that it will be running ships in the future to rival Maersk, CMA CGM and others.

Evergreen’s fleet renewal programme now includes recently signed agreements with both Costamare and Shoei Kisen Kaisha to each provide, on charter, five 14,000 TEU containerships to be delivered during 2016 and 2017 respectively. Evergreen, which initially announced just seven new charters, says the larger ships will reduce unit costs an ‘optimise competitiveness’.

As this is a fleet renewal program, the new build vessels will be replacements for existing vessels and the company’s operating tonnage will not be increased, balanced as it is by the redelivery of other fleet assets when those ships’ charter periods expire. Evergreen has already taken delivery of the first two ships from an order for ten 13,800 TEU charter vessels under construction at the yards of Hyundai Heavy Industries, with the balance of that order due in the second half of this year.

As with any newly ordered box carriers under order, the ten new ships will incorporate a range of up to date features including fuel saving technology to ensure their fuel consumption will be substantially lower than ships of the same size built prior to 2010. Evergreen says it is confident these ships will not only enhance the line’s operating performance but will also meet the stringent requirements for environmental protection that the carrier has set itself.

Meanwhile the third low-emission, fuel-efficient L-type vessel to be built by the CSBC Corporation in Taiwan for Evergreen Line was named at a ceremony, held at CSBC’s Kaohsiung shipyard today. The ceremony was officiated by Mr. S. S. Lin, First Vice Group Chairman of Evergreen Group. In his speech, Mr. S. S. Lin said:

“Among the ten L-type vessels that Evergreen ordered from CSBC, two are now plying the oceans in the service of our customers. In every aspect, the performance of these newbuildings fully meets our expectations. The deliveries of Ever Lucid and its sister ships will continue to enhance the competitiveness of our operating fleet in the global shipping market.”

With a deadweight of 105,000 tonnes, a draft of 14.2 metres and a length overall of 335 metres, the new ship is currently the biggest Taiwan-flagged vessel and is fitted with 948 reefer plugs. The vessel can cruise at a speed up to 24.5 knots and is owned by Evergreen Marine Corp and will join Evergreen Line's Far East - Europe route after her delivery on January 15. The ship is the latest vessel in Evergreen's fleet renewal program which commenced in 2010 at a time when shipbuilding costs were at cost-effective levels. This project entails thirty L-type vessels, which will once again act as replacements for existing units

Evergreen Marine posted a US$73 million loss for the first 9 months of 2013 but this could well be turned into a profit once the dust has cleared on the recent deal the company did selling assets, principally containers, from its Panama based subsidiary Greencompass Marine SA for a reported US$75 million.

Photo: Evergreen colour codes its boxes, white lettering on a standard green container with the reverse for a reefer.