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Evergreen Group to Greatly Expand Aircraft and Freighter Fleets in 2014

Mar 06, 2014 | By Steve Chuang

In response to brightening market climate for shipping and air travel, Taiwan-based Evergreen Group, a conglomerate of shipping, transportation and associated services with globally known subsidiaries as EVA Airways and Evergreen Marine, has decided to greatly expand its aircraft and freighter fleets this year, confirmed the group's vice chairman, Bronson Hsieh, at a Lunar New-Year banquet held in early March.

According to the vice chairman, Evergreen Marine will bring in 18 new freighters this year to lead its counterparts worldwide; and EVA Airways is going to buy three Boeing 777 and six A321 jetliners this year—or totally 18 new aircrafts in the coming two years as a record high of all time. The fleet expansion makes sense as Evergreen Group is quite optimistic about market prospects this year.

Hsieh pointed out that global economic outlook is widely forecast to be brighter this year than last year, with International Momentary Fund projecting the global GDP growth to increase from 3.1% to 3.7%, and that of the U.S., EU bloc and other developing and undeveloped countries to improve from 1.9%, minus 0.4% and 4.7%, respectively, to 2.8%, 1% and 5.1%.

Hsieh further cited forecasts by global shipping market research institutes to emphasize that global shipping volume is predicted to grow by 4.4% yearly, while growth of supply in the market to slow to 5.5%, which will better balance supply and demand to sustain the industry's overall performance. To ride the wave, he continued, his group hence is determined to procure 18 new large-sized cargo ships in the year.

Another reason behind Hsieh's optimism about the group's shipping business is Evergreen Marine's joining the CKYH, a global shipper alliance composed by Ccscon of China, K-Line of Japan, Yang Ming Marine of Taiwan and Hanjin of South Korea. He noted that joining the alliance will enable the subsidiary to significantly enhance global competitiveness and operating efficiency and to lower costs.

Meanwhile, EVA Airways president, K.W. Chang, confirmed that the planned new Boeing 777 jetliners to be added to the fleet this year will all fly Taiwan-North America routes; and his company will also consider opening new routes to Chicago, Houston and other major cities in the U.S. in the short term to better explore the bullish market for air travel. (SC)


Overview of Evergreen Group's Fleet Expansion Plan
Subsidiary
For 2014
For Years Ahead
EVA Airways Corp.
  • 3 Boeing 777 jetliners
  • 6 A321 jetliners
  • 3 Boeing 777 jetliners in 2015 and one in 2016
  • 6 A321 jetliners in 2015
Evergreen Marine Corp.
  • 10 8,000-TEU freighters (newly built)
  • 8 14,000-TEU freighters (rented)
  • 3 8,000-TEU freighters (newly built) in 2015
  • 5 freighters in 2016 and 2017 each
Source: Evergreen Group


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