Evergreen’s Billion-Dollar Bet: Massive Orders for Dual-Fuel Boxships

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Credit: Tom Fisk/Pexels

Despite recent declines in global liner earnings, there seems to be no slowdown in the massive orders for container ships, as reported by Splash247.

Launching another tender

Taiwanese company Evergreen has announced a tender for twenty-four 16,000 teu methanol dual-fuel ships, which are expected to cost approximately $180 million each. Shipyards have until May 17 to bid for the project. It’s likely that several yards will be chosen, with Korean yards being the most likely contenders. Evergreen also plans to launch another tender for a series of 3,000 teu vessels once these contracts are concluded. The orderbook for containerships has been steadily increasing for the past 10 quarters, reaching a new record high for four consecutive quarters. Currently, the orderbook equals 28.9% of the existing fleet, and experts predict that the global box fleet will exceed 30m teu soon, up 16% from the current level, after accounting for scrapping.

 

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Source: Splash247