Yang Ming orders boxships

Yang Ming Marine Transport, the Taiwan-based shipping company, said its wholly owned unit All Ocean Transportation has acquired five container vessels from state-run China Shipbuilding Corp for a total of $470 million. The vessels will have a capacity of 4,250 TEU and are scheduled for delivery from the third quarter in 2008.

In addition, Yang Ming also plans to order a Panamax bulk carrier to which is expected to join the fleet by the end of 2008.