Evergreen Orders 24 Methanol-Fueled Containerships for $5 Billion

Taiwanese shipping Line Evergreen Marine Corp has confirmed orders for 24 large methanol deal fuel containerships at shipyards in Japan and South Korea.

All 24 ships will have a capacity of 16,000 TEUs.

Nihon Shipyard of Japan will construct eight of the vessels, while Samsung Heavy Industries of South Korea will construction the other sixteen.

Evergreen disclosed the purchase price at between $180-210 million per ship, bringing the total value of the two orders to more than $5 billion. The company did not disclose the delivery dates.

The orders mark Evergreen’s first foray into dual fuel ships.

Evergreen Line is the world’s sixth largest container shipping operator with more than 213 owned and chartered ships representing 1.6 million TEUs, giving it 6% market share.

News of the order comes as Maersk has taken delivery of the world’s first methanol-powered containership as methanol continues to make inroads as a popular alternative fuel choice for newbuilding ship orders.

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