Sunday, May 28, 2023
HomeGasYang Ming: First shipping company in Taiwan to own LNG-powered containerships

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Yang Ming: First shipping company in Taiwan to own LNG-powered containerships

During its 372nd Board Meeting, Yang Ming approved that, the five new 15,000 TEU vessels authorized at 368th Board Meeting on 14th January, would be equipped with dual-fuel LNG marine engine.

Yang Ming will be the first shipping company in Taiwan that owns LNG-powered container ships. The shipbuilding plan is set to strengthen the Company’s mid- to long-term operational competitiveness and accelerate fleet renewal plan. By using clean energy, Yang Ming has taken another step to address climate change and move on to low-carbon transitions, thereby protecting Mother Earth in the years to come.

Yang Ming develops its fleet deployment plan based on business projection and international environmental laws and regulations. As stricter regulations are being enforced globally to achieve zero emission, the Company is factoring in the following benchmarks when determining choice of fuel types. They include IMO’s Carbon Intensity Indicator (CII) for annual decrease in emission intensity, and the Fit for 55 package, being part of the European Commission’s Green Deal, to reduce EU’s total GHG emissions by up to 75% by 2050, and the recommendation of applying a well-to-wake approach in GHG accounting of maritime transport. In the spirit of environmental sustainability, Yang Ming is using LNG for the new fleet on account of its relatively mature low-carbon technology. By so doing, the Company expects to reduce GHG emissions by at least 20%, as compared to using traditional fuel. In all, Yang Ming is fulfilling its objective on environmental sustainability while stepping up competitive edge for the entire fleet.

Related Posts

Video

Finance & Economy
Shipping News
Ports

Seanergy ‘well positioned to benefit from positive trend in Capesize market’

Seanergy Maritime Holdings Corp., announced its financial results for the first quarter ended March 31, 2023, and declared a quarterly dividend of $0.025 per...

Dorian LPG sees Q1 revenue more than double year-on-year

Dorian LPG reported its financial results for the three months and fiscal year ended March 31, 2023. Highlights for the Fourth Quarter Ended March 31, 2023 Revenues of $133.6 million.Time...

Navios Holdings Posts $14.5 Mln Net Income in Q1

Navios Maritime Holdings Inc., reported its financial results for the first quarter ended March 31, 2023. Navios Holdings owns (i) a controlling equity stake...

BW LPG posts ‘strongest quarterly performance on record’

BW LPG has recorded its ‘strongest quarterly performance on record’ in the first three months of 2023. The company was boosted by strong exports...

ONE, Wan Hai agree to pay civil penalties to FMC

Ocean Network Express (ONE) will pay a US$1.7 million civil penalty to avoid a formal investigation by the US Federal Maritime Commission (FMC) for...

Nikolaus H. Schües elected BIMCO President

BIMCO has elected Nikolaus H. Schües , CEO and owner of Reederei F. Laeisz,...

Baltic Dry Bulk Index Ends Worst Day In Over Three Months

The Baltic Exchange’s main sea freight index declined the most since mid-February on Thursday...

Maritime UK appoints new Chief Executive Officer

Maritime UK, the umbrella organisation for the UK’s maritime sector, has appointed Chris Shirling-Rooke...

Baltic dry bulk index extends slide for 10th straight session

The Baltic Exchange’s main sea freight index of shipping rates for dry bulk commodities...

Baltic index hits over two-month trough on lower rates across vessels

The Baltic Exchange’s main sea freight index slumped to its lowest level in over...

DP World Completes Terminal Expansion Project Vancouver Port

DP World has completed the AED954 million ($259.78 million) Centerm expansion project, increasing container throughput at the Port of Vancouver by 60 percent. The terminal...

DP World completes AED 954 million Vancouver port expansion

DP World and the Vancouver Fraser Port Authority have celebrated two historic events – the completion of the Centerm Expansion Project at DP World...

Alexandroupolis port gets 24 million euros of EU funding

Greece has secured 24 million euros ($26 million) in European Union funding to upgrade its northern Aegean Sea port of Alexandroupolis, privatisation agency HRADF...

Port Hedland Iron Ore Exports Down 5% in April

Pilbara Ports Authority (PPA) has delivered a total monthly throughput of 57.7 million tonnes (Mt) for April 2023. This throughput was a two per cent...

APM Terminals Reveals $1 Billion Investment in Brazil

APM Terminals’ CEO Keith Svendsen has pledged an investment of about US$1 billion in the company's Brazilian operations up to 2026. The amount includes around...