Evergreen orders ten new feeder vessels for free trade

Evergreen signs order for ten new feeder vessels to take advantage of expected Asia Pacific free trade agreement.
Evergreen signs order for ten new feeder vessels to take advantage of expected Asia Pacific free trade agreement.
Evergreen signs order for ten new feeder vessels to take advantage of expected Asia Pacific free trade agreement.

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Evergreen has just signed an order for ten new feeder container vessels, the shipping line has confirmed, expanding its regional services to take advantage of an upcoming free trade agreement.

Evergreen, which is in the Asian CKYHE container alliance, has said it wants to be prepared to take full advantage of the expected boost to inter-regional trade when the agreement between Taiwan, Australia, China, India, Japan, South Korea and New Zealand.

The deal is expected to "remove trade barriers, enhancing bilateral trades and thereby boosting regional cargo growth," says Bronson Hsieh, Evergreen's second vice group chairman. "Our decision to invest in these newbuildings is aimed at providing for the growth potential brought about by this free trade development."

The Taiwanese shipping line has ordered the 2,800-teu vessels from CSBC Corporation in Taiwan and the first vessel in the series is expected to be delivered in the second half of 2017. The remaining vessels will be delivered through the first half of 2018.

The statement does not include a price related to the order, but back in April of this year there were rumours that Evergreen was preparing to invest up to US $700 million on an order for 20 new feeder vessels.

Earlier this year, Evergreen signed a charter deal for 11 newbuildings of 18,000-teu from Japanese Shoei Kisen Kaisha, marking the line’s entry into the ULCC club.

The ships are under construction at the Imabari yard in Japan and expected to be delivered in 2018 and 2019.

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