Taiwan’s Evergreen Marine Corporation has approved a major fleet expansion, ordering 23 new container ships worth up to $1.47 billion in a move that underscores continued confidence in global trade despite ongoing market volatility.

The contracts, approved by the board of Evergreen Marine (Asia) Pte. Ltd. on January 27, cover seven 5,900 TEU vessels from Jiangsu New Yangzi Shipbuilding and sixteen 3,100 TEU vessels from CSSC Huangpu Wenchong Shipbuilding.

Pricing for the seven larger ships is set between $469 million and $574 million, while the 16 smaller vessels are valued between $736 million and $896 million, according to regulatory filings. The deals were negotiated at prevailing market rates, with both yards classified as non-related parties.

The latest orders significantly expand Evergreen’s forward pipeline. The carrier currently operates 239 vessels totaling 1.9 million TEUs, including 162 owned ships and 77 chartered vessels, ranking it seventh globally by capacity, according to Alphaliner. With the newbuildings included, Evergreen’s orderbook now stands at 76 vessels totaling 925,000 TEUs — equivalent to 47.3% of its existing fleet capacity.

The orders highlight Evergreen’s strategic emphasis on mid-sized containerships, a segment increasingly favored for its operational flexibility on regional, secondary, and feeder trades. The 3,100 TEU and 5,900 TEU classes offer carriers greater adaptability as trade lanes shift and congestion pressures persist at major hub ports.

The contracts also reinforce the continued dominance of Chinese shipyards in the global container ship orderbook, with both Jiangsu New Yangzi and Huangpu Wenchong among the most active builders in the sector.

Evergreen did not disclose expected delivery dates for the vessels.