Evergreen Marine shipping company will add seven new vessels to its fleet, as part of its plan to scrap old and smaller vessels and upgrade to more efficient units.
The seven new vessels, owned by Japanese trading firm Sumitomo, will have a capacity of 14,000 twenty-foot equivalent units (TEU).
The Taipei Times reported that the vessels will be delivered to Evergreen in 2016 and 2017 under a ten year tenancy term.
In addition to the new vessels, the company signed a deal with Greek shipping firm Enesel in 2013, to charter ten container ships, which have a capacity of 13,800TEU and were built by Hyundai Heavy Industries.
Evergreen received two of the ten container ships in September 2013, with the remaining eight expected in the second half of 2014.
In December 2013, Evergreen Group vice-chairman Bronson Hsieh told the website that demand in the container shipping sector could rise on the back of the global economic recovery.
The company also announced plans to implement a rate restoration programme for routes from the Far East and Indian Sub-Continent to Europe and the Mediterranean region, by $500 per TEU or by $1,000 per forty-foot equivalent unit (FEU).
Evergreen Marine is a Taiwan-based containerised-freight shipping company.
Image: Evergreen will scrap old and smaller container vessels when new ones are delivered. Credit: courtesy of Peter Kaminski.