A report has claimed Yang Ming is set to order 20 new containerships to replace chartered vessels.

The China Times said the refinancing owner wants to save money on leasing fees.

The report, which cited no sources, said the company has 20 vessels whose charters expire next year.

It will contract a range of ships to fill the gaps, saving between 20% and 60% compared to charter fees due to the slump in newbuilding prices.