Yang Ming Marine Lines approved a plan to issue $150-180 million in convertible bonds overseas to finance the purchase of nine new container ships. Yang Ming said it plans to buy seven ships, each with a capacity of 1,500 teu, to ply its its Asian lines, and two 5,500-teu ships for its transoceanic routes. "The company feels that shipbuilding costs are still at low levels and the shipping market is in an upturn, which fits with our plans to strengthen our regional and transoceanic fleets," Yang Ming's said in a statement. Yang Ming said the nine ships represented a record order for the shipper, which purchased five 5,500-teu containerships in 1998.
Taiwan's second largest shipping firm Yang Ming Marine said on Tuesday its net profit in 1999 reached T$1.675 billion ($55.3 million) The company's 1999 sales totaled T$45.168 billion ($1.5 billion), Yang Ming said in a statement. It gave no comparative figures for 1998. Yang Ming's board of directors had agreed to offer dividends of T$1 per share to stockholders. The dividend included T$0.4 in cash and T$0.6 in stock
At the invitation of China Steel Corp. (CSC) and Yang Ming Marine Transport Corp., Wan Hai Lines Ltd. has shown its willingness to enter into a consortium led by CSC to invest in the state-run China Shipbuilding Corp., which has decided to go private through public bidding, according to a report on Taiwan Headlines. China Shipbuilding estimated it would sell a 51 percent up to 66 percent stake to become a privately owned firm
Taiwan's Yang Ming Marine Transport Corp., the island's largest shipping firm in terms of revenues, said on Thursday it made sales of T$3.75 billion in May, down 1.37 percent from the same month in 2000. That brought accumulated sales in the January-May period to T$19.85 billion, a 5.17 percent rise from the corresponding period last year. May sales were down 13.8 percent from T$4.35 billion in April. - (Reuters)
Yang Ming, the second largest shipping company in with a total fleet of 91 vessels representing 4.1 million-DWT of which container vessels are the main service, though 10 bulk carriers are also in operation. Yang Ming transports more than 3.1 Million TEUS per annum; a result which places them in the top 5 container lines in the world. The signing ceremony took place through the representation of Key Stake Holders from Yang
Seaspan Corporation has accepted delivery of a 14,000 TEU containership new build, the YM Warmth. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's sixth 14,000 TEU SAVER design containership and eighth delivery in 2015. The YM Warmth will commence a 10-year, fixed-rate time charter with Yang Ming Marine Transport Corp. Yang Ming may extend the charter for up to an additional two years.
Seaspan Corporation has announced that it has, further to a previously announced binding letter of intent, signed long-term, fixed-rate time charter contracts with Yang Ming Marine Transport Corp. for five 140,00 TEU class newbuilding containerships. Concurrent with the signing of the time charter contracts and further to a previously announced commitment, Seaspan has entered into shipbuilding contracts with CSBC Corporation Taiwan for these five 14,000 TEU class containerships
Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v YM Los Angeles, a 2006-built Panamax container vessel of approximately 5,000 TEU capacity that the Company entered into an agreement to purchase on March 19, 2015. The YM Los Angeles is chartered to Yang Ming (UK) Ltd., at a gross charter rate of $21
CKYHE Alliance, COSCON, “K”Line, Yang Ming, Hanjin and Evergreen Line, is reorganizing their service network for Asia-US East Coast trade in 2016. CKYHE Alliance will provide five Asia-US East Coast services (AWE1/AWE3/AWE4/AWE8/NUE) from early June of 2016. The Alliance members have re-designed the services to provide optimum port coverage from Asia to US East Coast with AWE1/AWE3/NUE services upsized & AWE4/AWE8 services re-structured in order to
Mitsui O.S.K. Lines, Nippon Yusen Kaisha, “K” Line, Hanjin, Hapag-Lloyd and Yang Ming to create a new partnership “THE Alliance” Tokyo, May 13, 2016 - Mitsui O.S.K. Lines (MOL, President & CEO: Junichiro Ikeda), Nippon Yusen Kaisha, “K” Line, Hanjin, Hapag-Lloyd and Yang Ming have agreed to create a new alliance covering all East-West trade lanes namely, Asia-Europe / Mediterranean, Asia-North America West Coast, Asia-North America East Coast
Starting in June 2016, shipping company Hapag-Lloyd will add a new call in Port Everglades to its Mediterranean Gulf Express (MGX) service. Florida International Terminal (FIT), operated by SAAM since 2005 in Port Everglades – Fort Lauderdale, Fla., will add a new service
Cai Mep, Vietnam - With five new services calls added to Cai Mep International Terminal (CMIT) since May of 2015, container volume has surged by 130% to 277,303 TEUs for the first three months of 2016, as compared with the same period a year ago
Throughput at Cai Mep International Terminal, the APM Terminals facility in Vietnam’s Ba Ria‐Vung Tau province, southeast of Ho Chi Minh City, expanded by 130 percent in the first quarter as new service calls added in 2015 began to impact volumes.
South Korea's largest shipping line Hanjin Shipping said bondholders agreed to extend the maturity of Won35.8bn ($30.1m) in debts by four months to September 23 this year, in a major step to help the company avoid bankruptcy. According to a report in the Korea Herald
Containership reliability was broadly unchanged in November as the average on-time performance across all trades slipped by just 0.8 percentage points against October to 77.2 percent, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain
Containership reliability was broadly unchanged in November as the average on-time performance across all trades slipped by just 0.8 percentage points against October to 77.2%, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain
China Cosco Shipping (COSCOCS), China's biggest shipping line, plans to carry out a careful selection of its future vessel-sharing alliance partners, but will maintain its two current alliances for the moment, the company said on Friday.
Several of the world’s top container lines are entering in different vessel-sharing alliances following the current wave of mergers and acquisitions among carriers, reports China Daily. There has been reports that had shocked the containership transport industry - the possible
The CKYHE Alliance is reorganizing its service network for Asia-Europe and Asia-Mediterranean trades as the carriers try to counter the weak demand and excess capacity that is plaguing the route and dragging down freight rates.
Yang Ming Marine Transport Corp. (YM) inked a partnership agreement with Thailand’s Regional Container Lines (RCL) Group aimed at pooling the companies’ resources to weather a persisting downturn in the sector, according to a report in Taipei Times.
CKYHE Alliance - COSCON, "K"Line, Yang Ming, Hanjin and Evergreen Line - is reorganizing its service network for Asia-North Europe and Asia-Mediterranean trades in 2016. The CKYHE Alliance will provide five Asia-North Europe services (NE2/NE3/NE5-CEM/NE6/NE7) and four
China Cosco Shipping plans to retain its current container alliances until they expire, after which it plans to sign a new deal, it said on Monday. The group's spokesman, Yu Zenggang, did not say when the current alliance agreements were due to expire.
State-backed shipbuilder CSBC Corporation, Taiwan has launched two domestically developed and constructed vessels in the southern Taiwan port city of Kaohsiung, reports Taiwan Today. YM Window and YM Width are 368 meters long, 51 meters wide and can carry 14,198
To fend against M2, newly forming Ocean Alliance is latest push for economies of scale groups. German container shipping firm Hapag-Lloyd has formed a new alliance with five Asian competitors, it said on Friday, the latest step in an industry reorganisation that is divvying up the global
Japan’s three largest shipping companies - Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K Lines (MOL), and Kawasaki Kisen Kaisha (“K” Line) - and three other carriers worldwide will form the world's third-largest container shipping alliance, reports Nikkei.