Evergreen plans cheaper ships by owning shipyard in China

EVERGREEN chairman Chang Yung-Fa has revealed that the company in its quest for cheaper ships will build its own state-of-the-art shipyard at Quanzhou in Fujian province in a joint venture with the Chinese government.

Dr Chang said Evergreen would not invest in 8,000-TEU ships, saying he prefers 6,000-TEU vessels despite pressure from his salesmen who want mega ships.

AXS-Alphaliner reported that the projected shipyard is expected to open for business in 2011, and will build all types of vessels, as well as containerships for Evergreen. Until then, Evergreen will charter the vessels it needs.

The current capacity of Evergreen's fleet is 598,600 TEU, giving it a 5.3 per cent global market share, AXS-Alphaliner said.

Evergreen has 31,200 TEU on order, accounting for one per cent of the total capacity ordered by the top 10 carriers.

The last ships will be delivered within the next 12 months, including two 7,024-TEU vessels by the end of the year.