Yang Ming Marine Transport Corp announced Wednesday it will acquire 40,400 new containers valued at up to NT$3.6 billion ($112 million), as Taiwan’s largest shipping company continues expanding its equipment fleet following strong freight market conditions.
The Taipei-listed carrier recently approved plans for up to 13 new container vessels, signaling aggressive capacity growth despite concerns about potential market overcapacity.
Yang Ming split the container purchase between two Chinese manufacturers. CIMC Group, the world’s largest container producer with over 40% market share, will supply 22,750 units for $56-60 million. Guangdong FUWA will provide 17,650 containers for a similar amount.
The deal represents Yang Ming’s strategy to increase owned container ratios rather than relying on leased equipment, according to company statements from its second-quarter earnings call. Yang Ming currently operates 100 vessels with 724,800 TEU capacity, ranking as the world’s tenth-largest container carrier.
The timing raises questions about market demand sustainability. CIMC executives previously warned that container demand in 2023 would be just 20% of conventional years, though recent freight rate improvements have encouraged carriers to expand fleets.
Yang Ming’s existing order book includes eight newbuild vessels totaling 101,500 TEU capacity, representing a 14% increase over current fleet size.
