Evergreen Group (長榮集團) yesterday ordered 10 containerships from Japan’s largest shipbuilder, the second similar deal in a month, as it eyes trade growth potential from a planned regional trade bloc.
The order with Japan’s Imabari Shipbuilding Co Ltd brought to 20 the number of 2,800-twenty-foot equivalent B-type container vessels Evergreen has ordered in a month.
Evergreen Marine Corp (長榮海運), the world’s fourth-largest shipping firm, signed a similar contract with CSBC Corp, Taiwan (台灣國際造船) last month.
The exact value of neither of the two deals was revealed, but according to an Evergreen stock filing with the Taiwan Stock Exchange, each vessel is to cost at least US$36 million, with the combined value of the two deals estimated to reach at least US$720 million.
The fleet of 20 ships, all due to be delivered by the first half of 2019, is to be deployed in intra-Asia trade, according to Evergreen.
“With the RCEP [Regional Comprehensive Economic Partnership] expected to take effect, the trade barriers between ASEAN members and China, Japan, South Korea, New Zealand, Australia and India will fall off,” Evergreen Group vice chairman Bronson Hsieh (謝志堅) said while clinching the deal last month.
The RCEP is a proposed free-trade agreement between the 10 member countries of ASEAN and the six countries with which ASEAN has existing free-trade pacts.
“Evergreen’s decision to build the new fleet of ships is eyeing the growth opportunities of the anticipated free-trade pact,” he added.
Shares in Evergreen Marine closed 1 percent lower at NT$14.85 in Taipei trading yesterday.
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