Yang Ming today announced plans to acquire 13 containerships ranging in capacity from 8,000 to 15,000 teu, as it expands into the India-Europe route.
The Taiwanese mainline operator said the newbuildings would be for fleet renewal and business development as it “proactively explored new markets”.
Citing India’s strong economic performance and its position as one of the fastest-growing major economies, Yang Ming announced it would join the India North Europe Express service unveiled by HMM on Tuesday.
The Taiwanese operator and ONE will take slots on the service, which will launch on 5 February with the 6,350 teu HMM Oakland.
Yang Ming will market the service as India Ocean Express (ISE), providing a direct connection from West India, Sri Lanka and Pakistan to the North Europe region. The service will offer direct connections and transhipment solutions across the subcontinent.
Yang Ming said: “To ensure sustainable mid- to long-term business growth, the company plans to replace its over-20-year-old 5,500-6,500 teu class containerships and strengthen the operational advantages of main service routes.”
Yang Ming is now the 10th largest liner operator, with a fleet size of 705,505 teu, having dropped a rung in the rankings after Zim expanded its fleet.
But Yang Ming could fall out of the top ten if 11th-ranked compatriot Wan Hai Lines’ newbuilding orders surpass its fleet. Yang Ming’s current orderbook comprises five 15,500 teu ships that HD Hyundai Heavy Industries will deliver in 2025.
In November, Yang Ming chairman Tsai Feng-Ming admitted the company felt pressured by Wan Hai’s aggressive fleet expansion, but stressed that new ship orders will be made gradually, and not in bulk.
Yang Ming achieved a $1.63bn net profit for the first nine months of 2024, reversing a net loss in the year-ago period.