Evergreen Invests $3 Billion to Expand Megamax Fleet

Taiwanese ocean carrier Evergreen Marine has officially completed an agreement to order 11 ultra-large container vessels, each boasting a capacity of 24,000 TEUs. The total value of this transaction reaches $3 billion, allocated to shipbuilders across China and South Korea.

Strategic Partnerships and Green Energy Advancements

This massive order was initially revealed in 2025. According to the latest reports, the information has been officially confirmed through a regulatory filing submitted by Hanwha Ocean (South Korea). Specifically, the South Korean shipyard will construct six Megamax vessels - the largest class of container ships currently operating in the world. This milestone also marks the first-ever collaboration between Hanwha Ocean and Evergreen.

The remaining five vessels of the contract will be constructed by Guangzhou Shipyard International in China. 

Notably, all 11 of these newbuildings will be equipped with dual-fuel engine systems, allowing them to operate on both methanol and conventional diesel, strongly aligning with green shipping and decarbonization standards.

Leading the Industry in Newbuild Orderbook Size

As the world's 7th largest ocean carrier (holding a 5.7% global market share), Evergreen currently operates 12 ultra-large container vessels (ULCVs) within its active fleet.

The finalization of this $3 billion contract further solidifies the carrier's leading position in terms of investment scale. According to industry statistics, Evergreen now boasts a pending orderbook of 59 vessels, equating to a total capacity of 820,000 TEUs—the largest figure among all major global ocean carriers.

Industry-Wide Overcapacity Pressures

Evergreen's aggressive fleet expansion unfolds against a challenging market backdrop. According to data from Lloyd’s List, despite structural overcapacity amid an uncertain macroeconomic environment that is weakening freight rates, the total container ship orderbook across global carriers is steadily approaching the 9 million TEU mark. This massive influx of pending capacity is currently equivalent to 30% of the entire active global commercial fleet.

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Source: Phaata.com (According to Freight Waves)

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