Taiwanese carrier Yang Ming Marine Transport has selected Hanwha Ocean for a six-ship newbuilding programme worth up to $1.22bn, according to Splash247. The order represents a significant investment in LNG dual-fuel technology and fleet modernisation.
Fleet renewal details
The LNG dual-fuel vessels will have capacity of around 13,000 TEU each and are priced at between $185m and $204m per unit, putting the total investment at between $1.11bn and $1.224bn. Final contract terms are still under discussion. Hanwha Ocean told Korean media that the two sides had yet to settle the final price, delivery schedule and construction location.
Yang Ming first approved the six-ship plan in March as part of a wider fleet renewal programme. The carrier said the new vessels would replace older owned and chartered ships in the 4,250 TEU to 6,500 TEU range and serve on major east-west trades. This suggests the newbuilds will be deployed on high-volume lanes such as Asia-Europe and Transpacific routes, where scale efficiency is critical.
Previous order at Hanwha Ocean
The latest deal marks Yang Ming’s second major boxship programme at Hanwha Ocean. The carrier signed for seven 16,000 TEU LNG dual-fuel ships last year, with deliveries scheduled between 2028 and 2029. Completion of the latest contract would take Yang Ming’s pipeline at the South Korean yard to 13 ships. A comparison of the two orders is shown below:
| Order | Vessels | Capacity (TEU) | Fuel Type | Price Range (per ship) | Delivery Timeline |
|---|---|---|---|---|---|
| Previous (2025) | 7 | 16,000 | LNG dual-fuel | Not disclosed | 2028–2029 |
| Current (2026) | 6 | 13,000 | LNG dual-fuel | $185m–$204m | To be negotiated |
Other newbuildings in Yang Ming's pipeline
Yang Ming also has LNG dual-fuel tonnage entering service from HD Hyundai Heavy Industries and three 8,000 TEU methanol-ready vessels lined up in Japan. This diversified newbuilding programme reflects the carrier’s strategy to modernise its fleet with alternative-fuel-capable ships, reducing emissions and meeting IMO 2030 targets.
Implications for shippers and operators
For freight forwarders, logistics managers, and supply chain directors, Yang Ming’s fleet renewal signals a gradual capacity increase on east-west trades. The replacement of 4,250–6,500 TEU ships with 13,000 TEU units will improve slot cost efficiency and may lead to more competitive freight rates on these lanes. However, the phasing out of smaller vessels could reduce flexibility on secondary routes. Shippers should expect more reliable service as newer LNG dual-fuel ships offer better fuel efficiency and schedule integrity.
Key points for operations teams:
- The six new ships will add 78,000 TEU of capacity when fully delivered.
- Older tonnage in the 4,250–6,500 TEU range will be progressively retired or returned to owners.
- LNG dual-fuel capability may require adjustments in bunkering infrastructure at ports, though major hubs are already adapting.
Watch list
Final contract terms are still under negotiation. The price, delivery schedule, and construction location remain to be settled. Any extension of delivery dates beyond initial expectations could affect Yang Ming’s fleet replacement timeline. Additionally, further newbuilding orders from other carriers may impact global shipyard capacity and newbuilding prices in the near term.
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