Yangming Shipping is also ready to follow
Fengming CAI , the new chairman of Yangming Shipping, said in his first corporate briefing that Yangming Shipping's fleet renewal plan will start from replacing old ships, and the proportion of owned and leased ships must be adjusted.
According to Alphaliner's latest data, among the top 100 shipping capacity of global liner companies, Yangming Shipping was surpassed by ZIM, falling to 10th, operating 94 vessels, including 57 owned vessels and 37 chartered vessels, with a total capacity of 697,000 TEU. In addition, Yangming Marine holds five new shipbuilding orders totaling 77,500TEU. This means that 56.9% of its space comes from chartered vessels.
On July 26 this year, Yangming Shipping announced that Mr. Fengming CAI replaced Zheng Zhenmao as the chairman of the company. Mr. Tsai Feng-ming, aged 48, has a strong academic background. He was a professor and head of the Department of Shipping Management and a professor of Marine Tourism Management Degree at Taiwan Ocean University.
Dr. Fengming CAI said, "More than half of the ships owned by Yangming Shipping are over 20 years old. We are evaluating new shipbuilding plans, especially for energy-efficient vessels, to remain competitive."
Fengming CAI revealed that Yangming Shipping is considering the construction of 24,000 TEU container ships, the first half of next year will determine the medium and long-term shipbuilding plan.
In fact, among the head liner companies, Yangming Shipping is the only head liner company that does not have more than 20,00TEU container ships and is relatively conservative in terms of fleet capacity expansion.
In sharp contrast, in the face of the current "world of great competition", the international geopolitical environment is complex and changeable, and different crises are becoming the new normal, especially in the context of alliance restructuring, with the maturity of the post-super cycle consolidation market, head liner companies are more inclined to continue to overorder new ships.
He added that Yangming Shipping would consider buying vessels for long-term charter - indeed, it has already bought 10 since 2023, increasing the proportion of its own vessels by 4 per cent.
Yang Ming Shipping has fallen to 10th place in the ranking of liner companies and needs to build more ships, Mr CAI said. He also said he would propose a pay rise for employees to give them the "best possible benefits."
Yangming's pay has been a pain point since the super cycle, with employees at rival Eva Shipping receiving much higher bonuses.
"I hope colleagues and the board will have more common goals in the shortest possible time, and there will be more new developments," Mr Tsai concluded.
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