Evergreen Marine Corporation

Evergreen makes US$76 million investment in Oakland terminal

Evergreen Marine Corporation’s terminal operating subsidiary Everport Services has invested US$76 million in the port of Oakland.

No further information was released, with Evergreen citing confidentiality.

The disclosure of the investment coincided with Evergreen acquiring a 20% stake in Euromax’s terminal in the Dutch port of Rotterdam on 17 August.

Drewry Maritime Financial Research analyst Aditi Niranjan told Container News that many mainline operators have acquired terminal assets to increase...

https://container-news.com/evergreen-makes-us76-million-investment-in-oakland-terminal/

Kaohsiung to deepen HMM’s terminals to accommodate giant ships

Taiwan International Ports Corporation (TIPC) will spend around US$142 million to excavate the waters around berths 76, 77 and 78 as South Korean flagship carrier HMM has agreed to renew its lease.

In May 2017, HMM took over operations of the three berths from its former compatriot peer Hanjin Shipping, which was declared bankrupt in February of that year. The three berths have an annual handling capacity of 640,000 TEUs and are added to HMM’s existing terminal at berths 118 and 119.

TIPC...

https://container-news.com/kaohsiung-to-deepen-hmms-terminals-to-accommodate-giant-ships/

CJ Logistics signs up ONE as strategic partner

CJ Logistics, South Korea’s largest third-party logistics provider, signed a collaboration agreement with Ocean Network Express (ONE) on 3 August, a month after sealing similar pacts with other carriers such as Evergreen Marine Corporation and SM Line.

The liner operators hope to increase cargo volumes through CJ Logistics’ network, while the latter aims to secure competitive freight rates.

CJ Logistics and ONE have also agreed to work together to secure container volumes to and from Asia, and to...

https://container-news.com/cj-logistics-signs-up-one-as-strategic-partner/

Wan Hai and COSCO give generous bonuses in Evergreen’s footsteps

Wan Hai Lines and COSCO Shipping Holdings have reportedly paid their staff bumper bonuses, as publicity surrounding Evergreen Marine Corporation’s 40-month bonus continues.

Taiwanese media, citing one of Wan Hai’s subcontractors, have reported that Wan Hai’s staff will receive a bonus comprising a full-year’s salary and an additional TW$1 million (US$36,093).

The source claimed that initially, Wan Hai planned to offer a lower bonus, but decided to increase the bonus by at least 30% after seeing...

https://container-news.com/wan-hai-and-cosco-give-generous-bonuses-in-evergreens-footsteps/

Korean antitrust body slaps $81m fine on price-fixing liner operators

The Korea Fair Trade Commission (KFTC) has fined 23 liner operators a total of $81m for ‘fixing’ freight rates on the South Korea to South-east Asia lane between 2003 and 2018.
Most of the major liner operators and a number of regional carriers were among those fined, including HMM, SM Line, Korea Marine Transport (KMTC Line), Pan Ocean, Sinokor, Maersk, Evergreen, Yang Ming, Wan Hai, SITC and Cosco.
KMTC received the heaviest penalty, …

The post Korean antitrust body slaps $81m fine on...

https://theloadstar.com/korean-antitrust-body-slaps-81m-fine-on-price-fixing-liner-operators/

Yang Ming finally places order for five 15,000 teu newbuildings

Yang Ming is to finally make a long-awaited order for neo-panamax newbuildings, more than a year after its peers began fleet expansion amid rocketing freight rates.
On 14 January, the Taiwanese liner operator’s directors approved orders for five 15,000 teu ships, along with 20,000 new 40ft containers, to fulfil the company’s Asia-Europe and transpacific services, as well as for fleet renewal in the long term.
Yang Ming has been conservative in its …

The post Yang Ming finally places order for...

https://theloadstar.com/yang-ming-finally-places-order-for-five-15000-teu-newbuildings/

Taiwan’s major liner operators increase slots ahead of Chinese New Year

The Taiwanese government is following its South Korean counterpart by calling on domestic ocean liners to ensure sufficient container shipping slots for local exporters.
The island’s three largest liner operators, Evergreen, Yang Ming and Wan Hai, will make more capacity available this month to meet heightened demand as exporters rush to ship goods before the lunar new year holiday starts on 1 February.
The Maritime Port Bureau said that among the additional …

The post Taiwan’s major liner...

https://theloadstar.com/taiwans-major-liner-operators-increase-slots-ahead-of-chinese-new-year/

Yang Ming boss Cheng attempts to calm employee anger over bonus disparity

Yang Ming management is urging staff not to compare their bonuses with those of fellow Taiwanese line Evergreen, some of whom received cash equivalent to 40 months wages.
A hasty press conference was arranged by the liner operator yesterday, as local media continued to report on the bonus disparity, despite net profits for the first nine months of 2021 at Yang Ming and Evergreen being $3.95bn and $5.69bn, respectively.
The bumper windfalls …

The post Yang Ming boss Cheng attempts to calm...

https://theloadstar.com/yang-ming-boss-cheng-attempts-to-calm-employee-anger-over-bonus-disparity/

MSC the major ‘winner’ in 2021’s containership capacity race

MSC added 411,000 teu of capacity last year, mostly via second-hand containership purchases, for a growth of 10.7%, to 4,266,805 teu, according to Alphaliner data.
This compares with 2M partner Maersk’s conservative 3.4% capacity growth of 142,405 teu, to 4,279,305 teu, and other carrier rivals’ flat or negative tonnage growth in 2021.
MSC’s tonnage growth was especially impressive given that several of its acquisitions involved ships it already operated on charter.
The consultant’s …

The post MS...

https://theloadstar.com/msc-the-major-winner-in-2021s-containership-capacity-race/

Taiwan carriers eschew multi-year contracts in favour of ‘customer choice’

Evergreen and Yang Ming are not following the contractual stance of rival operators, including Maersk and Cosco which are locking-in customers to multi-year contracts
The two Taiwanese carriers believe they should not bind their customers.
Yang Ming president Patrick Tu said: “We have to consider customers’ wishes. They may think freight rates may not remain at the same high levels over the next two to three years. However, if customers are sure rates …

The post Taiwan carriers eschew multi-year...

https://theloadstar.com/taiwan-carriers-eschew-multi-year-contracts-in-favour-of-customer-choice/

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