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.