World News
Yang Ming Eyes $64M Bunker Saving in 2015 from New Vessels
Yang Ming Marine Transport Corp. (Yang Ming) Friday said it will take delivery of 14 more energy-efficient 14,000 twenty-foot equivalent unit (TEU) capacity container ships over the next two years, The China Post reports.
Yang Ming is said to be hoping to save around $64 million in fuel costs from the move in this year alone.
Last month, Yang Ming received the first of a total of 15 vessels on order, with nine more expected this year and a further five in 2016.
The vessel received in March is understood already to be chartered out to Canada's Seaspan Ship Management Ltd. for the Asia-Europe trade.
Yang Ming is said to be optimistic about cargo shipping demand growth from increased global trade.
In total, the 15 new ships will add almost 50 percent to Yang Ming's capacity, adding 210,000 TEU to its existing fleet capacity of 470,000 TEU.
It is understood, with its expanded capacity Yang Ming will rise from fourteenth place in world rankings to tenth, based on capacity.
In January, Yang Ming's major Taiwanese competitor Evergreen Group announced plans to charter 11 new, bunker saving box ships of 18,000 TEU.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 485.00 | 5.50 | 673.00 | 7.00 |
| Rotterdam | 459.00 | 0.50 | 680.50 | 2.00 |
| Houston | 481.00 | 6.00 | 682.00 | 10.00 |
| Fujairah | 482.00 | 8.00 | 729.50 | 4.50 |
| Global 20 Ports Average | 520.50 | 3.50 | 765.50 | 6.50 |
| Global 4 Ports Average | 476.50 | 5.50 | 691.00 | 5.00 |
| Global Average Bunker Price | 552.50 | 12.00 | 805.50 | 3.00 |
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