Taiwan shipping giant Evergreen has downsized its orderbook in a reversal from a charter deal with management and leasing company, Niki Group for eight 12,500-TEU.
The shipping line is reported to be the only large operator left without future investment in Very Large Crude Carriers (VLCS), and its orderbook is reduced to the 4,298-TEU, Ital Moderna due for delivery in October with no other vessels due to end of year. The sub-panamax, Ital Moderna, is financed by German financial institute Lloyd Fonds and managed by Reederei Katharinen, of Hamburg, reported AXS-Alphaliner News.
Evergreen blamed an economic slowdown in the market for its shelved plans of earlier this year in building its own shipyard in a joint venture in Quanzhou, Fujian province. The shipyard, backed by local government, would have been a direct pipeline of vessels delivered at factory prices to restock the company's old TEU-ship stock.
Evergreen CEO Chang Yung-fa said that ships of 7,000-TEU will dominate shipping in the next few years despite the liner's near empty orderbook. According to the report Evergreen may sublet or buy secondhand mega-ships for their mainline trades in the coming future.
Mega-ships for delivery in 2010 and 2011 to MSC from Niki include nine 12,500-TEU from STX so far.
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