Taiwan's Yang Ming Line has officially inked shipbuilding and chartering contracts with Japan-based Imbari Shipbuilding and Shoei Kisen Kaisha for five 14,000teu container vessels.

The price for each vessel is US$125m and the vessels will be delivered between 2018 and 2019 and operated by Yang Ming under a long-term charter deal.

Currently, Yang Ming owns ten 14,000teu ships and ordered another five at Taiwanese shipbuilder CSBC.

In May, Yang Ming gave up its plan to build 18,000teu-20,000teu containerships and switched to 14,000teu ships.