Container-line Yang Ming plans to increase its share capital by 500 million shares. That would add 32% to its share count and raise $226 million at the current share price. The capital is much needed. Panjiva analysis shows it had a ratio of debt to capital of 82% in the first quarter. That was the highest in the sector for the 15th out of 16 quarters and compares to an industry average of 49%. The capital increase, if used to repay debt, would cut this to 70%. The significant capital raise suggests the company intends to remain independent for now.