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Evergreen gets top marks for excellent timing

The world's 4th largest container carrier, Taiwanese Evergreen Group, scores top marks in Drewry analysis for having ordered new ships at the best time possible.

Photo: APM Terminals

While the world's largest container carrier, Maersk Line, has been forced to admit that the timing and delivery of the 20 new mega ships in the Triple-E series could have been better, one of the shipping company's closest rivals, Taiwanese Evergreen, scores high marks in a new analysis by Drewry.

"The Evergreen Group has shown exceptional timing in judging the investment cycles, preserving cash and opportunistic ordering of new vessels near the trough of new-build prices. Evergreen was one of the few major carriers which refrained from ordering at peak of the market in 2004-08, eventually benefiting from a major decline in new-build prices," says Drewry.

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