Wan Hai: more profit, new vessels
The Taiwan-based carrier Wan Hai saw its profits rise in Q2/2022 and is now investing in the expansion of its fleet. The liner's net profit rose to USD 1 billion in the second quarter, a significant uptick of almost 59% compared Q2/2023.
Nevertheless, profits declined by 26% compared to the first quarter of 2022. The shipping line said that the current fall in sea freight demand was due to shutdown measures, high inflation and less demand from shippers.
The carrier is also investing in its future. Since 2020, Wan Hai has accumulated a war chest of close to USD 1.9 billion to buy second-hand ships and newbuilds.
In addition to its current newbuilding contracts for four 13,000 teu vessels, Wan Hai recently ordered four 2,800 teu ships that are being built speculatively by the Taiwanese shipbuilder CSBC. The newbuilds are due for delivery in Q3/2023. (sh)