R25-bn investment on the cards Alan Peat THERE ARE plans at the Evergreen Group - claimed to be the world’s third-biggest container line - to spend nearly US$3-billion (R25-bn) to expand its fleet over the next decade to meet growing demand, according to chairman Chang Yung-fa. He told the Asian Wall Street Journal that the Taiwan-based line intends to take delivery of a total of 49 new container ships between now and 2013 - including 24 vessels with capacity of more than 6 000 TEUs (twenty-foot equivalent units). There is an improved outlook in the shipping industry, Chang added, as freight rates and volumes rise because of China’s rapid growth and the nascent recovery in the global economy. He said he expects the improving economy to continue to propel demand for cargo space, and that he intends to step up competition with his larger rival, A.P. Moller-Maersk - in part by expanding into routes the Danish shipper now dominates. “The demand increase is far exceeding the capacity,” Chang added, “and there are still a great deal of untapped markets to be ventured into.” The new vessels will be distributed among the group’s three main shipping units: Taipei-based Evergreen Marine; London-based Hatsu Marine; and Italy-based Lloyd Triestino. Evergreen Group now owns 103 ships, and charters another 44 - totalling 438 124 TEUs of capacity. The new plans - which involve adding a total around 250 000 TEUs of capacity - would therefore expand Evergreen by about 57%.
