Liner giant Evergreen Marine Corp is said to be breaking with tradition by ordering a series of feedership newbuildings in China, worth up to $224m.
Several shipbuilding sources said the Taiwanese company has inked a letter of intent for up to eight 2,500-teu boxships at state-owned Jiangnan Shipyard.
“Evergreen has in the past only ordered newbuildings at shipyards in Japan and Taiwan,” a source said. “It also does not charter many Chinese-built containerships.”
Shipbuilding sources said Evergreen’s order is for four firm newbuildings plus four options.
The delivery date for the feederships is scheduled for 22 to 24 months after the signing of the official contract, which will likely be at the end of the year.
The vessels will be built to the IMO’s Tier II emissions standards.
Undisclosed price
The price tag for Evergreen’s 2,500-teu newbuildings has not been disclosed, but shipbuilding players suggest the company will be paying about $28m each.
In August, Evergreen disclosed to the Taiwan Stock Exchange that it intends to charter in 14 containerships of 2,500 teu apiece.
It appears the company may have reduced the planned order to eight as Jiangnan is the only shipyard linked to the 2,500-teu ships.
The newbuilding plans are part of Evergreen’s fleet-renewal programme.
When asked about the potential order, an Evergreen source said the company has invited leading shipbuilders to join the bidding. The candidates will be discussed in an upcoming board meeting.
“Evergreen always open-bid our newbuilding vessels to leading shipbuilders of the world,” the source said.
Officials at Jiangnan declined to comment on the shipyard’s newbuilding activities, citing contract confidentiality.
“The new ships will replace older ships as they come off charters,” Evergreen said. “In this way, the efficiency of its operating fleet will be optimised and the competitiveness of its [Evergreen’s] services enhanced.”
Shipowners and operators in Taiwan have traditionally used yards in Japan and South Korea, as well as domestic shipbuilders, in an effort to procure higher-quality tonnage. But more Taiwanese companies have been ordering in China as its yards’ reputation for quality improves.
Evergreen’s Jiangnan order would represent its first direct booking in China.
But its recent hunt for Bangkokmax feederships has seen it reportedly take newbuildings to be built at two Chinese yards.
The company has signed charter deals with several companies for 22 newbuildings in the 1,900-teu size range.
China’s Tsuneishi Group (Zhoushan) Shipbuilding has
been tasked with building four vessels, and compatriot Yangzijiang Shipbuilding will be building two.
Ten of the Bangkokmaxes will be built by Japan’s Imabari Shipbuilding and six will be constructed at Hyundai Mipo Dockyard in South Korea.
Evergreen is scheduled to take delivery of the ships in 2020 and 2021.
