Yang Ming’s 2,800 TEU newbuilds to get Smart Ship notations

  • Vessels

Ten new 2,800 TEU containerships being built for the Taiwanese shipping company Yang Ming by compatriot shipbuilder CSBC Corporation are set to receive Smart Ship notations from leading classifications societies including ABS, DNV GL, BV, and CR Classification Society.

Smart technology helps owners and operators to effectively collect, process, and perform advanced data analytics, enabling data-driven decision making with the ultimate goal of boosting operational efficiency and cost-cutting.

Furthermore, smart functionality helps owners and operators to keep their ships in top condition and is aimed at reducing crews’ workload.

Smart functions are enabled via a data infrastructure and are expected to help drive the industry’s decarbonization mission forward.

Yang Ming said that five of the new boxships – YM Celebrity, YM Continent, YM Certainty, YM Credibility, and YM Continuity – will be the first batch of vessels to be awarded ABS Smart notations in the world.

The notations include Data INFrastructure for Smart Function implementation(Smart INF) and Smart Structural Health Monitoring (SHM).

The recognition denotes that these vessels are equipped with smart information infrastructure of big data acquisition and cloud transmission, which enable ship structure endurance monitoring and future structural health awareness through ABS’s customized analysis program to ensure sailing safety.

“We are proud to lead the industry in the development of smart functionality, which tends to enable owners and operators to improve their operation,” said Bronson Hsieh, Chairman of Yang Ming. “By working with ABS we are demonstrating that the Yang Ming vessels are at the forefront of today’s vessel technology.”

Three of the new vessels – YM Centennial, YM Capacity and YM Cooperation- will be the first vessels to receive DNV GL SmartShip notations in Taiwan.

The notations, including SmartShip Operating Enhancement and Performance Enhancement, mean that the ships are equipped with advanced technologies such as improving container load flexibility with route-specific container stowage and fuel-saving with trim optimization. The technologies will greatly enhance vessel performance and effectively reduce Greenhouse Gas emissions, Yang Ming explained.

Two of the newbuilds – YM Credential and YM Constancy- will be the first vessels to receive BV SMARTSHIP (MACHINERY 1) notation, which indicates the ships are equipped with an integrated computer-based system for the controlling and monitoring of the automated installations of periodically unattended machinery spaces, and monitoring devices allowing the reduced scope of tail shaft survey.

Furthermore, seven of the series vessels are also certified by CR with Smartship H, Et, I notations, featuring functions of smart hull-structural health estimation, smart energy efficiency-trim optimization, and smart integration platform.

The ships are scheduled for delivery starting this year and will be deployed to Yang Ming’s intra-Asia services.

Q1 Results

Yang Ming reported a net loss after tax of $ 27.15 million for the first quarter of 2020, having recognized a loss from part of the group’s subsidiaries, including bulk business, worth $ 10.95 million. 

“Coupled with the slow resumption of production after Lunar New Year, and the proactive service and space reduction plan instituted by THE Alliance in response to the COVID-19 outbreak, container business earnings were weaker than expected,” the company said.

The overall container business performance in 2020 Q1 shows that volumes decreased 4% year over year to 1.24 million TEUs, while fuel cost increased 5% year over year due to the implementation of IMO 2020 Low Sulphur fuel regulation. Ocean freight, however, increased 4% over the same period last year and revenue only slightly declined 0.32% year over year.

As the COVID-19 pandemic rages, Yang Ming has announced its blank sailing plan in Q2 to mitigate the impacts of the crisis.

“Reduced revenue due to large scale capacity withdrawal in Q2 could be expected, however, related variable or semi-variable cost could also be lowered,” the shipping company added.

Yang Ming has retained its ‘twBBB’ long-term and ‘twA-2’ short-term credit ratings, according to the latest analyst report from Taiwan Ratings Corps.

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