Wan Hai boosts fleet expansion budget
Wan Hai Lines plots further expansion spending with a new war chest of up to $1.02bn to fund newbuilds and pursue secondhand containership buys.
The Taiwanese containerline has earmarked an additional $320m for secondhand ship acquisitions, adding to last year’s war chest of more than $500m and a further $700m set aside for newbuildings.
The world’s 11th largest liner said in a Taiwan Stock Exchange filing it would also add more dry containers for business requirements, but numbers were not disclosed.
Wan Hai operates a fleet of 147 ships and has 40 ships under construction. The Taipei-based company most recently acquired a 16-year-old 5,527 teu boxship for $109.5m, dishing out $94.5m more compared to what the German owner, Danz und Tietjens, paid in 2019 for the ship with a three-year charter attached.