Yang Ming Marine Transport Corporation (Yang Ming) held its 372nd Board Meeting on April 15th, 2022. The meeting was held to finalize the approval of five new 15,000 TEU vessels (equipped with dual-fuel LNG marine engines) authorised a few months ago. Yang Ming will now be the first shipping company in Taiwan that owns LNG-powered container ships.
The shipbuilding plan is set to strengthen the Company’s mid-to-long-term operational competitiveness and accelerate the fleet renewal plan by using clean energy. Furthermore, Yang Ming has also taken another step to address climate change and move on to low-carbon transitions to protect the environment in the years to come.
This fleet deployment plan was developed to project businesses and follow the environmental laws and regulations. As stricter regulations are being implemented globally to achieve a net zero-emission, Yang Ming is now factoring in the following benchmarks while determining choices of fuel types, including IMO’s Carbon Intensity Indicator (CII) for the annual decrease in emission intensity and the Fit for 55 packages.
Being part of the European Commissions Green Deal, Yang Ming is set to reduce up to 75 % of GHG emissions by 2050. The recommendation is to apply a well-to-wake approach to GHG accounting of maritime transport. In the spirit of environmental sustainability, Yang Ming is using LNG for the new fleet because of its relatively mature low-carbon technology.
The use of LNG for the new fleet will help reduce GHG emissions by up to 20 % compared to traditional fuel. By substituting LNG fuel for conventional energy, the Company is expected to reduce GHG emissions by 20%. For the time being, Yang Ming is fulfilling its objective of environmental sustainability while stepping up its competitive edge for the entire fleet.
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