Evergreen splashes out $3 billion on new LNG dual-fuel containerships

Taiwanese container shipping company Evergreen Marine Corporation has placed an order worth around $3 billion for new LNG dual-fuel containerships at South Korean and Chinese shipyards.

According to the company’s stock exchange files from February 12, eleven vessels with a capacity of 24,000 TEUs were ordered.

Five containerships will be built by CSSC Guangzhou Shipyard International (GSI) in China while the remaining six units will be constructed by Hanwha Ocean in South Korea.

As disclosed, Evergreen will pay around $265 million and $295 million per unit, totaling up to approximately $1.77 billion for six vessels at Hanwha Ocean and around $1.47 billion for five containerships at GSI.

The new containerships will have LNG dual-fuel propulsion, with deliveries expected to commence around 2028.

With the latest order, the Taiwanese shipowner made a switch from methanol-fueled containerships ordered in 2023 and 2024.

In 2023, Evergreen ordered 24 methanol dual-fuel 16,000 TEU boxships, scheduled for delivery between 2026 and 2027. The construction deal was divided between industry major Samsung Heavy Industries (SHI), and Nihon Shipyard, a joint venture between Japan Marine United Corporation (JMU) and Imabari