Taiwan's Yang Ming Marine Transport seeks to secure up to 10 new 14,000TEU containerships in a leaseback deal.
The liner operator has touted the mega-ship newbuilding & charter project late last year, but weak market sentiment forced it put on hold.
Now, however, after profitability recovered in the third quarter, Yang Ming’s board has given the management team approval to build five such mega ships, with options for five more.
A leasing partner would order the newbuildings at a shipyard and charter them to Yang Ming for eight to 12 years. Newbuildings would be delivered from the first quarter of 2015.
Korean shipbuilders and Taiwan's CSBC are expected to compete for the project.