Evergreen Marine Vows to Expand LNG Fleet with Dual Shipyard Order

Evergreen Secures 14 LNG Dual Fuel Boxships

Evergreen Marine Corporation of Taiwan approved on November 13, 2025 a board resolution authorizing purchase of 14 LNG dual-fuel container ships of 14,000 TEU capacity with estimated unit pricing ranging between $175 million and 205 million per vessel and each seven ship tranche valued between $1.225 billion and 1.435 billion. This order represents a significant capital commitment towards fleet modernization and environmental compliance. Unit pricing ranges between $175-205 million per vessel while each seven ship tranche values between $1.225 billion and 1.435 billion respectively.

Contracts will be divided equally between Samsung Heavy Industries in South Korea and Guangzhou Shipyard International in China, each responsible for building seven vessels each. This arrangement cements Evergreen's partnerships with each yard while reflecting their procurement strategy; deliveries should occur sometime between 2028-2030 to provide carriers with modernized ships which comply with evolving environmental regulations.

Fleet Expansion and Market Position.

Evergreen will take delivery of three 14,000 TEU vessels that will bring approximately 196,000 TEUs of new capacity to their fleet, increasing Evergreen's newbuilding backlog by nearly 90% and propelling them forward as the fifth-largest container line globally - surpassing Ocean Network Express (ONE) and Hapag-Lloyd in terms of total capacity.

Evergreen previously pledged in February 2025 to order 11 dual-fuel vessels of 24,000 TEU capacity from Hanwha Ocean and Guangzhou Shipyard International at $265-$295 million per ship, reflecting their increased investment in alternative-fuel-ready tonnage since 2023 to meet tightening emissions regulations and evolving CII/EEXI (Carbon Intensity Indicator/Energy Efficiency Existing Ship Index) requirements. These orders demonstrate Evergreen's continued investment in alternative-fuel ready tonnage since 2023 as new emissions regulations/CII/EEXI requirements have come into play.

Expanded Capital Deployment Options

Evergreen Marine used its November capital deployments for port infrastructure development and container procurement as well as newbuilding orders. They ordered 8 ship-to-shore gantry cranes from Shanghai Zhenhua Heavy Industry worth $106.9 million that will be installed at Evergreen Group's Colon Container Terminal in Panama.

Container procurement orders were valued at an approximate $497.7 million across multiple suppliers: Guangdong Fuhua Heavy Industry (31,150 containers; $62.6 million), Singamas Container (13,000 containers; $342 million), CIMC (20K; $43.1 million), and Orient Overseas Container Hong Kong Company (26350); this investment represents sustained demand for containerized cargo capacity as well as Evergreen's confidence in market fundamentals despite fluctuating freight rates.

Industry Context.

Evergreen's LNG ordering spree follows industry-wide trends toward alternative fuels. Globally, about 380 LNG-fueled boxships have been ordered as carriers strive for decarbonization and regulatory compliance with decarbonization and compliance mandates imposed by International Maritime Organization regulations and regional environmental mandates affecting container shipping operations. This shift toward dual fuel vessels represents Evergreen's strategic response to International Maritime Organization regulations as well as regional environmental mandates impacting container shipping operations.