Evergreen yesterday reported a 2024 net profit up more than three-fold from 2023, at TW$139.45bn ($4.25bn).
The carrier reported revenue for 2024 up 68% year on year, to TW$463.6bn ($14.1bn), as the Red Sea crisis drove freight rates to post-Covid highs.
The Taiwan liner operator also disclosed in a Taiwan Stock Exchange filing that it had purchased a 20,000 teu containership it had on long-term charter from Sun Lanes Shipping , a Panama-registered special purpose vehicle (SPV), for between $90m and $100m.
According to S&P Global’s Sea-Web database, the 2019-built Ever Greet matches the vessel description, and Sun Lanes is one of Japanese tonnage provider Nissen Kaiun’s SPVs.
Ever Greet is one of the Evergreen fleet’s 11 G-class vessels constructed by Imabari Shipbuilding. Evergreen originally chartered the ship from Imabari ship-owning affiliate Shoei Kisen Kaisha, which, in 2019, sold it to Nissen Kaiun, which took over the charter contract with Evergreen.
According to the filing there had 1.4 years left on the lease and $128.55m of charter payments.
Shipbroker Clarksons values Ever Greet at $156m and said, considering the amount Evergreen paid for the ship against the remaining charter payments, it had paid a competitive price for the ship.
One of Ever Greet’s sister ships is Ever Given, which blocked the Suez Canal in March 2021 after becoming grounded.
S&P Global’s Sea-Web database shows Evergreen is still chartering seven G-class ships from Shoei Kise.
Announcing its financial results, Evergreen’s management acknowledged the uncertainties facing container shipping in 2025, and said it would “adjust its routes and fleet deployment to respond to changing international economic and trade environments, while continuing to optimise and renew its fleet to ensure stability and resilience”.