Liner giant Evergreen Marine Corp has floated an enquiry for a quartet of feedership newbuildings as it shortlists bidders for its swathe of ultra-large containerships.
Industry sources said the container carrier has approached shipyards in the Far East for a potential order for four 1,800-teu newbuildings to be delivered in 2021 and 2022.
The names of the shipbuilding companies have yet to emerge.
Direct ownership
“Evergreen wants the vessels to be installed with scrubbers and these containerships will be used for trading between Japan, South Korea and Taiwan,” a shipping source said. “These newbuildings are likely to be owned directly by the company.”
A newbuilding expert estimated that the four feeder containerships may cost Evergreen up to $126m.
“The price of a conventional 1,800-teu newbuilding is between $25m and $30m," he said. "An additional $1m to $1.5m will be required for the installation of a scrubber.”
As it hunts smaller ships, Evergreen is also understood to have shortlisted five to six shipowners in a tender to secure up to 11 containerships to take on long-term charter, after the bid deadline closed on 23 July.
Leading contenders
Companies that have advanced in the contest include Japan’s Shoei Kisen Kaisha, John Fredriksen’s Ship Finance International, Japanese trading house Marubeni, Canada’s Seaspan and Costamare of Greece.
Some industry talk suggested that two clear favourites had already emerged from this list.
South Korea’s major shipbuilders — Hyundai Heavy Industries, Samsung Heavy Industries and DSME — are believed to be in the frame for the tender, as are Japan’s Imabari Shipbuilding and Japan Marine United.
Singapore-listed Yangzijiang Shipbuilding and two Chinese state-owned players — Jiangnan Shipyard and Hudong-Zhonghua Shipbuilding — are also in the running for the project.
Shipbuilding observers think Evergreen’s close associate and previous partner Shoei Kisen will be awarded some of the 23,000-teu newbuildings to be constructed at Imabari, its shipbuilding arm.
Opting for scrubbers
Evergreen wants to take delivery of these mega-boxships in 2022, and the company is opting for scrubbers over dual-fuel or LNG-ready ships. The 23,000-teu newbuildings are estimated to be worth about $1.7bn based on a per-ship price of between $150m and $160m.
Evergreen did not respond to specific questions on its plans for ordering and chartering the 1,800-teu and 23,000-teu newbuildings.
However, a company spokesperson said: “To provide efficient marine transportation service and enhance operating competitiveness, Evergreen Line continues monitoring market development and customer demand, [and] adopts advanced shipbuilding technologies to introduce the most suitable vessel types in line with the line’s stringent eco-friendly criteria for fleet renewal.
Information about our newbuilding programmes or charter parties will be announced as required by authorities concerned
Evergreen spokesman
“After the negotiations with tonnage suppliers are completed, information about our newbuilding programmes or charter parties will be announced as required by authorities concerned.”
Fleet renewal
At the end of last year, Evergreen placed its first newbuilding contract in China for four vessels of 2,500 teu at Jiangnan Shipyard. The scrubber-fitted units are set to be delivered in 2021. Evergreen said the newbuildings were part of the company’s fleet-renewal plan.
In addition to ordering its own tonnage, Evergreen is also replacing its 1,900-teu vessels with 22 chartered-in newbuildings from several companies.
Marubeni and Shoei Kisen have joined forces and ordered six vessels at Imabari.
Nissen Kaiun and trading house Mitsui & Co booked four ships at Imabari, while Mitsui & Co also placed six vessels at South Korea's Hyundai Mipo Dockyard. Nissen Kaiun ordered four at Tsuneishi Group (Zhoushan) Shipbuilding, and Pacific Ship Management, together with Itochu, inked two vessels at Yangzijiang Shipbuilding.
Evergreen is scheduled to take delivery of these 22 ships in 2020 and 2021.
