The board of directors of Taiwanese shipping company Yang Ming Marine Transport Corp. has approved the construction of five 15,000 TEU containerships that will be equipped with dual-fuel LNG marine engines.
The ships will be built in the name of the company or its subsidiaries, the carrier said in a stock exchange filing on 15 April, adding that further details will be announced soon.
Yang Ming claims it will become the first shipping company in Taiwan to own LNG-powered boxships .
“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,” the shipping company said.
As explained, the shipbuilding plan is set to strengthen the company’s mid-to-long term operational competitiveness and accelerate fleet renewal.
By using clean energy , the company has taken another step to address climate change and move on to low-carbon transition .
Yang Ming said 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 emissions, the company is factoring in the following benchmarks when determining the choice of fuel types.
They include IMO’s Carbon Intensity Indicator (CII) for an annual decrease in emission intensity, and the Fit for 55 package , being part of the European Commission’s Green Deal , to reduce the 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.
Yang Ming is the world’s ninth-largest container shipping company, with a fleet of 92 ships and a total TEU capacity of 664,349, according to data provided by Alphaliner.
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