Container-line Yang Ming may order as many as 20 new vessels to renew its fleet and cut costs. It would potentially own these vessels, allowing it to cut the proportion it charters, and so improve gross profit margins. The potential move follows strong third quarter results which included a 23% rise in revenues and better-than-expected profitability. Yang Ming currently charters 64% of its capacity, above the sector average of 55%. It also currently only has orders for additional capacity equivalent to a 12% expansion. Even with that growth it would be a second tier operator once the cur...