Evergreen postpones 60 newbuildings

The Maersk Line competitor Evergreen has put its construction of 60 medium-small size container ships on hold. Thereby, the shipping company reacts to the comprehensive overcapacity in the market even though the Taiwanese shipping company still plans to build giant container ships, Sino Ship news reports.

Photo: APM Terminals

Evergreen has stalled on it plans to take delivery of 60 medium-small size container ships. The shipping company will not take delivery of the ships until the expansion of the Panama Canal has finished in 2015, Sino Ship news reports.

Vice President in Evergreen, Bronson Hsieh predicts that the number of container ship newbuildings will grow by 10 percent next year and he expresses a wish that shipping companies will make a bigger effort in order to control the capacity instead of ordering new ships and thereby overwhelm the market with capacity.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

IKEA stops chartering container vessels

IKEA will no longer lease space on board container ships to have its products brought to shelves across the world, the global furniture group confirms. But the company is trying to avoid congested ports.

Related articles

Latest news

See all jobs