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Wednesday, September 18, 2019

Evergreen Marine Corp News

File Image: Evergreen Marine Corp

Taiwan's Evergreen Opens Four New Offices in Latin America

Taiwanese container transportation and shipping company  Evergreen Marine Corp. is expanding its operations into Central and South America this year following the recent opening of four new agency offices in the region."In view of the growth potential in Latin American trade, Evergreen Line is continuing to establish its own offices at main service locations in the region. The move will strengthen the effectiveness of the line’s operations, improve its capability to react to market opportunities…

The charter parties were signed by EMC Chairman Mr. Anchor Chang and President of Shoei Kisen Kaisha Mr. Yukito Higaki. (Photo: Evergreen)

Evergreen Charters Twelve 11,000 TEU Newbuilds

Evergreen Marine Corp. (EMC) entered into an agreement with Shoei Kisen Kaisha to charter twelve 11,000 TEU class containerships. The charter parties were signed by EMC Chairman Anchor Chang and President of Shoei Kisen Kaisha Yukito Higaki. The plans to charter these vessels were approved early last month at the board meetings of Greencompass Marine S.A. and Evergreen Marine (Hong Kong) Ltd. respectively. The two subsidiaries of EMC will each charter six vessels. All twelve ships…

From left to right:  EMC President  Lawrence Lee; EMC Chairman  Anchor Chang; SHI CEO  J.O. Nam; SHI CMO  K.H. Kim (Photo: EMC)

Evergreen Orders Eight 11,000 TEU Containerships

Evergreen Marine Corp. (EMC) said it has entered into an agreement with South Korean shipbuilder Samsung Heavy Industries (SHI) to order eight 11,000 TEU containerships. Four ships will be owned by EMC’s subsidiary, Greencompass Marine S.A. and a further four by Evergreen Marine (Hong Kong) Ltd. The newbuildings are planned to be delivered from the first quarter of 2020 through the second quarter of 2021. EMC said the newbuilding program will help it meet future market demand as the carrier continues its ongoing fleet renewal.

Benjamin Tsai, President Photo Evergreen Shipping Agency (America) Corporation

Evergreen Names Tsai President of North America Agency

Benjamin Tsai, previously serving as Chief Executive Vice President, has been appointed President of Evergreen Shipping Agency (America) Corporation, North America General Agents for global ocean carrier Evergreen Line. Roy Amalfitano, President for the last five years, has been promoted to Vice Chairman. The promotions were announced by Mr. Lawrence Lee, President of Evergreen Marine Corp. (Taipei). "Both Benjamin and Roy have successfully led EGA through some challenging times for the maritime industry in general," said Mr. Lee. Mr.

Pic: Evergreen Marine Corp. (Taiwan) Ltd

Evergreen May Turn Around

Evergreen Marine Corp, which has been battered by falling freight rates due to a prolonged supply glut, may swing into profit this year as market conditions improve in the global shipping industry, reports Taipei Times. The paper quoted  Capital Investment Management Corp as saying that Evergreen is expected to  post profit of NT$689 million (US$22 million) for this year, compared with an estimated loss of NT$5.65 billion for last year. Signs the container shipping industry had bottomed out gradually surfaced toward the end of last year…

Figure 1

Drewry Finds Risk of Carrier Failure Still High

Drewry’s Z-score carrier financial stress index sunk to its lowest ever point following the first-half 2016 results. After Hanjin’s bankruptcy shippers are demanding more financial transparency from carriers. There is still much work to be done to clean up the logistical chaos created by Hanjin’s bankruptcy, but even so there are lessons from the sorry mess that need to be learned to avoid a repeat occurring. Firstly, all stakeholders must understand that no carrier is too big to fail. The hitherto expectation that some white knight would rescue an ailing carrier has been erased forever.

(Image: Optimarin)

Optimarin Reports Surge in BWTS Orders

With its latest succession of contracts won, ballast water treatment (BWT) specialist Optimarin reports it has now sold more than 400 of its environmentally friendly UV-based systems. Optimarin said 2016 has been a boom year for a company that installed the first ever commercial BWT system back in 2000. Optimarin Ballast System (OBS) orders have been confirmed with Atlantis Tankers (10 units) and Sinopacific Shipbuilding Group (nine), while the firm also made its first foray into fishing, with a contract for the Fisherman’s Finest vessel America’s Finest.

Image: Evergreen Marine Corp. (Taiwan) Ltd

Succession Fight for Evergreen Heats Up

The feud among the scions of late billionaire Evergreen Group founder Chang Yung-fa's family boiled to the surface, reports local Taiwanese media. The struggle between the heirs to Evergreen Group has escalated as the three older brothers reportedly took drastic measures to undermine their younger brother’s accession to the helm of the family-run shipping and transportation empire. Evergreen Group founder Chang Yung-fa died on Jan. 20 and left a December 2014 will that named his youngest son…

Image: Evergreen Marine Corp

Taiwan’s Evergreen Resume Traffic in Iran's Shahid Rajaee Port

Taiwan’s Evergreen Marine Corp. has authorized one of its huge container ships to berth at Shahid Rajaei port in southern Iranian province of Hormozgan, reports Press TV. Ebrahim Idani, director general of Hormozgan Ports and Maritime Department, was quoted by Iranian media as saying on Tuesday that the fifth-generation container ship, Ever Legion, has started its journey from China’s Shanghai port and will call at various ports in Hong Kong, Taiwan, Malaysia, Sri Lanka, and the United Arab Emirates’ Jebel Ali Free Zone before berthing at Shahid Rajaei port…

Photo by Evergreen Shipping Singapore

Evergreen Marine Plans China-Indonesia services

The largest container shipper in Taiwan Evergreen Marine Corp will work with China's COSCO Group and China Shipping Container Lines Co to launch shipping services between China and Indonesia later this month. The three partners will assign four 2,000-2,700 twenty-foot equivalent unit (TEU) vessels to serve the new route. TEUs are used to measure the capacity of container vessels. The first sailing is planned to depart from Qingdao on the 20th of May, with the following the port rotation: Qingdao-Shanghai-Xiamen-Shekou-Pasir Gudang (Malysia)-Singapore-Surabaya (Indonesia)-Singapore-Qingdao.

Image: Evergreen Marine Corp

Evergreen Launches New Shipping Route in SE Asia

Taiwan's Evergreen Marine Corp. is launching a new service soon to Vietnam, Singapore and Malaysia in a bid to tap into the booming economy in the Association of Southeast Asian Nations (ASEAN). Starting today (May 10), two 1,164 twenty-foot equivalent unit (TEU) vessels will take turns to ply the new route once a week, the shipping company said. It said the vessels will alternate on the weekly route from Haiphong in Vietnam, to Ho Chi Minh City also in Vietnam, Port Klang in Malaysia, Singapore, Tanjung Pelepas in Malaysia and back to Haiphong, taking 14 days to make the trip.

Container Shipper Nautilus Files for Bankruptcy

Nautilus Holdings Ltd, a Bermuda-chartered company that leases containerships, has filed for Chapter 11 bankruptcy protection in New York, becoming the latest victim of a depressed shipping industry. The company has about $770 million in debt, according to papers filed late Monday with the U.S. Bankruptcy Court in Manhattan. International shipping rates have fallen in recent years as large new vessels entered service at the same time that a sluggish global economy was curbing trade.

Port of L.A. Recognizes Green Initiatives

The Port of Los Angeles honored 26 shipping and cruise lines for their participation in the Port’s Vessel Speed Reduction Program (VSRP), an initiative that involves the lowering of vessel speeds when ships approach the Port. The VSRP has resulted in significant decreases in diesel particulate matter, sulfur oxide and nitrogen oxide emissions into the environment since it was established in 2001. For the first time, the Port also honored 12 ship carriers for their participation in the Environmental Ship Index (ESI)…

Taiwan Container Ships to Serve New Routes

Evergreen Marine Corp. partnered with  French-based CMA CGM Grou, & Yang Ming Marine both offer new container services. Evergreen's new route, called South Red Sea Service, connects Southeast Asia, the Indian subcontinent, and countries near the Red Sea, as well as provide services into landlocked African countries like Ethiopia through the East African country of Djibouti, reports Focus Taiwan. The new Red Sea service will begin May 2 with a container ship departing from Port of Tanjung Pelepas in Malaysia.

Ever Lawful Christening: Photo credit Evergreen Line

New Evergreen Container Ship Christened 'Ever Lawful'

The seventh L-type containership for Evergreen Line, launched and named at Korea's Samsung Heavy Industries shipyard. The new ship  was christened by S.S. Lin, the Evergreen Group's First Vice Group Chairman, and the ceremonial rope cutting for the new 8,452-TEU vessel was performed by Mrs. Lai Chao-Yin, wife of Mr. Shiu Kuang-Si, the president of Mega International Commercial Bank, in a ceremony attended by dignitaries from Taiwan and abroad. Ever Lawful is owned by Evergreen Marine (Singapore) Pte Ltd.

Q3 2019  - Breakbulk Issue