Wan Hai invests 360 million US dollars to acquire second-hand container ships

With its profits soaring and the need to meet immediate market demand, Wan Hai  Lines plans to buy second-hand container ships for $360m.
 
The soaring freight rates of container ships in Europe and the United States have also led to a sharp rise in the freight rates of the Asian line. Wan Hai announced its revenue of NT $8.751 billion in November, a record high of 9.79% per month and 40.99% per year. The accumulated revenue in the first November of this year was NT $70.656 billion, an annual increase of 6.5%.
 
Wan Hai announced that it authorized Wan Hai Lines (Singapore) to purchase ships, and evaluated to purchase several second-hand 1800TEU and 8500TEU container ships for operation, with a total value of not more than 360 million US dollars.
 
Wan Hai (Singapore) bought two 11923TEU container ships in March for up to US $187 million, and after buying 37,000 containers in October, Wan Hai (Singapore) also bought a 4178TEU ship from CMB NV for US $18.25 million.
 
One 4178TEU container ship was purchased with $18.25 million on December 7, and two 7241TEU container ships were purchased with $35.36 million on December 18. On Dec. 21, Wan Hai bought two container ships for $67.86 million. Since this month, it has acquired five container ships with a total value of nearly $160 million.
 
Wan Hai purchased a 6,350TEU container ship "Hyundai New York" from SEMPTI MARINE S.A. at a price of 32.5 million US dollars, and at the same time purchased a 7241TEU container ship from MenoitisVerwaltung GmbH of Germany for 35.36 million US dollars.
 
With the latest two vessels, Wan Hai has acquired five container ships worth $156.83 million this month, completing 43.56% of the procurement schedule.
 
Source: Sarah Yu, XINDE MARINE NEWS

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