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Taiwan's Evergreen Line to add 6,000 shipping containers amid global shortage

Taiwanese container transportation and shipping company adds total of 63,500 shipping containers in 2021

Evergreen Line's shipping container yard in Kaohsiung, Taiwan. 

Evergreen Line's shipping container yard in Kaohsiung, Taiwan.  (CNA photo)

TAIPEI (Taiwan News) — Taoyuan-based container transportation and shipping company Evergreen Line announced on Monday (July 12) that it would procure another 6,000 shipping containers this year as global demand continues to outpace capacity on the high seas.

The endeavor will cost the company approximately NT$1.11 billion, the statement read.

The company procured the containers from China's Guangdong Fuwa Equipment Manufacturing Co. through two of Evergreen Group's subsidiaries following the additions of 18,000 and 39,500 containers in February and March, respectively.

An industry insider told UDN that the cost of each container amounts to US$6,662, an above-market price that has raised speculation the deal was not made for common containers.

Operating the fourth-largest container fleet in the world, Evergreen Line has continued to expand its fleet this year to address sea freight needs amid container shortage woes.

Evergreen Line announced recorded earnings of NT$24.36 billion (US$860 million) for 2020, with an EPS of NT$5.06, a record high for the past 16 years. It continued to outperform by recording a whopping Q1 earnings of NT$36.08 billion in 2021, with an EPS of NT$7.04.

Updated : 2021-09-23 08:51 GMT+08:00