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Yang Ming

Yang Ming To Purchase Nine Containerships

Yang Ming Marine Lines approved a plan to issue $150-180 million in convertible bonds overseas to finance the purchase of nine new container ships. Yang Ming said it plans to buy seven ships, each with a capacity of 1,500 teu, to ply its its Asian lines, and two 5,500-teu ships for its transoceanic routes. "The company feels that shipbuilding costs are still at low levels and the shipping market is in an upturn, which fits with our plans to strengthen our regional and transoceanic fleets," Yang Ming's said in a statement. Yang Ming said the nine ships represented a record order for the shipper, which purchased five 5,500-teu containerships in 1998.


Yang Ming Profit Hits $55M

Taiwan's second largest shipping firm Yang Ming Marine said on Tuesday its net profit in 1999 reached T$1.675 billion ($55.3 million) The company's 1999 sales totaled T$45.168 billion ($1.5 billion), Yang Ming said in a statement. It gave no comparative figures for 1998. Yang Ming's board of directors had agreed to offer dividends of T$1 per share to stockholders. The dividend included T$0.4 in cash and T$0.6 in stock


Yang Ming Chooses SpecTec

Yang Ming, the second largest shipping company in with a total fleet of 91 vessels representing 4.1 million-DWT of which container vessels are the main service, though 10 bulk carriers are also in operation. Yang Ming transports more than 3.1 Million TEUS per annum; a result which places them in the top 5 container lines in the world. The signing ceremony took place through the representation of Key Stake Holders from Yang


Yang Ming Sales Sag

Taiwan's Yang Ming Marine Transport Corp., the island's largest shipping firm in terms of revenues, said on Thursday it made sales of T$3.75 billion in May, down 1.37 percent from the same month in 2000. That brought accumulated sales in the January-May period to T$19.85 billion, a 5.17 percent rise from the corresponding period last year. May sales were down 13.8 percent from T$4.35 billion in April. - (Reuters)


Consortium Formed to Invest in China Shipbuilding

At the invitation of China Steel Corp. (CSC) and Yang Ming Marine Transport Corp., Wan Hai Lines Ltd. has shown its willingness to enter into a consortium led by CSC to invest in the state-run China Shipbuilding Corp., which has decided to go private through public bidding, according to a report on Taiwan Headlines. China Shipbuilding estimated it would sell a 51 percent up to 66 percent stake to become a privately owned firm


Seaspan Enters Long-Term, Fixed-Rate Time Charter Agreements

Seaspan Corporation has announced  that it has, further to a previously announced binding letter of intent, signed long-term, fixed-rate time charter contracts with Yang Ming Marine Transport Corp. for five 140,00 TEU class newbuilding containerships. Concurrent with the signing of the time charter contracts and further to a previously announced commitment, Seaspan has entered into shipbuilding contracts with CSBC Corporation Taiwan for these five 14,000 TEU class containerships


Diana Containerships to Buy Two Post-Panamax Vessels

diana containership logo.png

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, announced that it has signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated third party two Post-Panamax container vessels, the m/v YM March and the m/v YM Great. The m/v YM March and the m/v YM Great are both 2004-built vessels of 5,576 TEU capacity. The purchase price for each vessel is $22.175 million


Korea's Hanjin Shipping Mulls Portland Pull-out

Manila's International Container Terminal Services Inc's (ICTSI), troubled venture in Portland, Oregon, faces more difficulties as its big customer, Hanjin Shipping, is pondering whether to leave the port for either Tacoma or Seattle, according to the 'China Logistics Portal'. Portland has been plagued with labour problems, resulting in on-again off-again work slowdowns, which came from conflicting undertakings given to two unions over which union would supply reefer box monitors.


Post-Panamax Ship Delivered to Diana Containerships

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, today announced that, through a separate wholly-owned subsidiary, it took delivery of the m/v YM March, a 2004-built Post-Panamax container vessel of 5,576 TEU capacity that the company entered into an agreement to purchase on August 7, 2014. The YM March is chartered to Yang Ming (U.K.) Ltd., at a net charter rate of $12,000 per day


COSCO Launches New Shipping Service

China Ocean Shipping Corporation (COSCO) Container Lines has launched a weekly shipping service from Shanghai to Japan and the U.S. east coast. Operated jointly by COSCO, Japan's Kawasaki Kisen Kaisha Ltd. and Yang Ming Lines of Taiwan, the service will shorten travel time between Hong Kong and New York from 33 days to 26 days and went into operation on Monday, officials said. The route starts in Shanghai with stops at Yantian, in south China's Guangdong province, Hong Kong, and the U.S


Continership Alliance Expands to US Trades

Photo courtesy of Evergreen Line

The CKYHE Alliance (COSCO, "K" LINE, Yang Ming, Hanjin Shipping, and Evergreen Line) has announced they will expand their cooperation scope to U.S. Trades and CKYHE files an Agreement and reports to related regulators to comply with their regulations.    


'New Tango' Brings More Post-Panamax Ships to Charleston

The Monte Rosa, a 5,560 TEU Hamburg Süd vessel, calls the Wando Welch Terminal for the first time today as part of the New Tango East Coast South America service.

New service expands Port of Charleston's capacity to serve North-South trade The SC Ports Authority today received the first ship call of a new consolidated East Coast South America service that brings additional post-Panamax vessels to Charleston.


Diana Containerships Takes Delivery of YM Great

Diana Containerships, a global shipping company specializing in the ownership of containerships, has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v “YM Great”, a 2004-built Post-Panamax container vessel of 5


Yang Ming Extends Charter Terms for Five 14,000-TEU Ships

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  Seaspan Corporation announced today that Yang Ming Marine Transport Corp., has confirmed the term of the fixed-rate time charters for the five 14000 TEU SAVER design containerships currently being constructed at CSBC Corporation will be extended to ten years with one two-year option


USCG Updates Prohibited Cargo Carriers List

The U.S. Coast Guard (USCG) Port State Control (PSC) updated its list of vessels and ship management companies that are prohibited from carrying U.S. government impelled cargos. Prohibited Vessels AN HO ANNE ASSOS STRIKER CHEMBULK TORTOLA CORSO DREAM ENERGY CHAMPION ENERGY PIONEER


Evergreen Line Makes Maiden Call to Boston

ItalLunare docked at the Port of Boston

Evergreen Line’s ItalLunare celebrated its maiden call to the Port of Boston with an official first call and plaque presentation on Wednesday, the Massachusetts Port Authority (Massport) announced. This is the first time Evergreen Line has called Boston directly in nearly 30 years.


Evergreen Line's Ital Lunare to Make Maiden Call in Boston

As part of the new service linking North Asia and the U. S. East Coast (NUE2), Evergreen Line's containership Ital Lunare will make the first ever direct call into the Port of Boston for the ocean carrier on August 20 as part of the CKYH partner agreement.


Container Shipper Nautilus Files for Bankruptcy

Nautilus Holdings Ltd, a Bermuda-chartered company that leases containerships, has filed for Chapter 11 bankruptcy protection in New York, becoming the latest victim of a depressed shipping industry. The company has about $770 million in debt, according to papers filed late Monday with the U.S


China Scolds Vietnam over China Sea Rig Row

China's top diplomat scolded Vietnamese officials during talks in Hanoi on Wednesday for "hyping up" a row over a Chinese oil rig drilling in disputed waters in the South China Sea, in tough comments that suggest relations will remain rocky.


Deep Sea Carriers Attracted to Intra-Asia Routes: Analysis

Intra-Asia Annual Volumes teu: Image courtesy of Drewry Maritime Research

Cargo growth on intra-Asia routes is attracting deep-sea carriers due to the availability of cheap charter vessels and economies of scale between China and SE Asia, but regional players also know how to form defensive alliances, reports Drewry Maritime Research in its latest 'Container Insight


Port of Los Angeles Adopts Fiscal 2014-15 Budget

 Ambassador Vilma Martinez: Official photo

The Los Angeles Board of Harbor Commissioners informs it has approved a US$938.8-million fiscal year (FY) annual budget for the Port of Los Angeles. Nearly $350 million (37 percent) of the approved budget will go toward capital expenditures to help the Port maintain its global competitive position


Port Of Felixstowe First Choice For Evergreen

Courtesy Port of Felixstowe

The Port of Felixstowe has welcomed the first call at the UK’s largest container port of Evergreen’s CES (China Europe Shuttle) service. The 8,452 TEU Ever Laden launched the service from the Port of Britain in late May. The CES Service links North Europe to Asia with calls in Taiwan


Evergreen Line to Terminate a Vessel Sharing Agreement

Evergreen Line inform they have notified their vessel sharing partners NYK, Hanjin, and Yang Ming Line to terminate its Vessel Sharing Agreement (VSA) on the ANS USEC-Caucedo-Brazil service in April 2014.   The last vessel to be completing a round trip voyage will be Conti Harmony 019S/N


P3 Network Restructures the Shipping World

Photo: Xeneta

The P3 agreement between Maersk, MSC, and CGM CMA continues to roil the waters. While the agreement’s pros-and cons are about to be scrutinized in an upcoming meeting between America’s Federal Maritime Commission, the European Competition Commission


Hanjin Cutting its Losses

Source: Drewry Maritime Research

Drewry’s weekly container insight report shows exits from the transatlantic and Asia-Black Sea trades demonstrate how Hanjin is prioritizing financial repair over global coverage. Drewry said cash-strapped Hanjin Shipping has recently announced to its customers that it will be leaving two






 
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