Taiwan’s Evergreen Marine has signalled bold confidence in the future of global shipping, approving a sweeping $1.47 billion investment in 23 new container vessels even as freight markets remain unpredictable.
The move marks one of the carrier’s most significant fleet expansions in recent years and underlines its determination to stay competitive in a shifting industry.
Evergreen Marine (Asia) Pte. Ltd.’s board signed off the contracts on 27 January, commissioning seven 5,900 TEU ships from Jiangsu New Yangzi Shipbuilding and sixteen 3,100 TEU vessels from CSSC Huangpu Wenchong Shipbuilding.
The larger ships are priced between $469 million and $574 million, while the smaller vessels carry a combined value ranging from $736 million to $896 million. Regulatory filings confirm that the deals were struck at prevailing market rates, with both shipyards operating as independent partners.
This latest order dramatically enlarges Evergreen’s future fleet. The company currently runs 239 vessels with a total capacity of 1.9 million TEUs, made up of 162 owned ships and 77 chartered ones, placing it seventh in the global rankings.
Once the newbuildings are factored in, Evergreen’s orderbook rises to 76 vessels totalling 925,000 TEUs, representing nearly half of its existing capacity.
The choice of mid-sized containerships reflects a deliberate strategy. Vessels in the 3,100 and 5,900 TEU range are increasingly valued for their flexibility, allowing carriers to respond quickly to changing trade patterns, serve regional and secondary routes efficiently and navigate congestion at major hub ports.
The contracts also further cement China’s position at the heart of global shipbuilding, with Jiangsu New Yangzi and Huangpu Wenchong continuing to rank among the industry’s most active and influential yards.
Evergreen has not yet revealed when the new vessels will be delivered, but the scale of the investment sends a clear message: the company is preparing for growth, whatever the market winds may bring.