Yang Ming ready to upgrade fleet with 20 boxships

The fleet renewal plan at Taiwanese shipping company Yang Ming Marine Transport Corporation has received board approval.

Under the plan, Yang Ming will order the construction of 10 2,800TEU containerships and charter ten 11,000TEU containerships.

The new ships will replace the vessels that will be chartered or retired in the next three years.

“The price and the counterparty will be announced in accordance with the provisions after the contract is signed,” Yang Ming said in a regulatory filing.