Yang Ming Marine Transport signed contracts with Nihon Shipyard and its partners on October 28 for six 8,000 TEU container vessels capable of running on methanol, marking the company’s first foray into alternative fuel technology as regulatory pressure mounts on the shipping industry.
The NT$211 billion to NT$231 billion ($688 million to $754 million) investment includes three vessels already under construction and three new builds, all scheduled for delivery starting in 2028. The ships will replace aging 5,500 TEU vessels that have been in service for over two decades, according to the company’s announcement.
While Yang Ming characterizes the vessels as “dual-fuel ready,” they remain dependent on conventional marine fuels until green methanol becomes commercially viable and widely available. Green methanol currently represents only about 5% of global supply and can cost two to four times more than conventional fuels, raising questions about the economic feasibility of the transition.
The order follows Yang Ming’s December 2024 announcement of a broader fleet modernization plan involving up to 13 vessels. The Keelung-based carrier, which reported NT$64.18 billion ($2 billion) in net income for 2024, faces mounting compliance costs as European Union emissions trading requirements and International Maritime Organization carbon intensity standards take effect. The EU’s Emissions Trading System for shipping began in 2024, with FuelEU Maritime regulations commencing in 2025.
