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Taiwan's Evergreen sets its own course to growth

source:transportweekly author: time:2014-05-16  

Taiwan's ocean carrier Evergreen has defended its strategies despite industry criticism it had hurt profit in reckless capacity increases, reports Lloyd's List.

The carrier defended its fleet renewal programme of 30-strong order for 8,500 TEU as having "greater flexibility" but agreed that the time is right for an increase in capacity size of 13,800 TEU and 14,000 TEU through lease deals.

The carrier's group vice chairman Marcel Chang, son of founder and well-connected octogenerian Chang Yung-fa, has supported these decisions which see it hold little stakes in major shipping routes unlike other carriers that enjoy the lion's share.

It justified a new growth path supported by the formation of new-style alliances rather than previous years where it operated independently.

It has signed as a full member of Cosco, "K" Line, Yang Ming and Hanjin Shipping (CKYHE) on the Asia-Europe trades. It is thought such an alliance allows for greater flexibility than the big consortia of P3 and G6.

London-based Mr Chang said it will continue to seek co-operative opportunities: "By joining the alliance and sharing space with alliance partners, the necessary load factors become more feasible and the big ships' potential economies of scale can be achieved."

Evergreen is chartering bigger vessels such as in the 10-ship deal of 13,800 TEU from Greece's Enesel, a series of 14,000 TEUers from Greece's Costamare and Japan's Shoei Kisen Kaisha, ordering five each.

The Taiwan shipping giant remains cautious of reviving round-the-world services despite an enlarged Panama Canal increasing trade.



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