Taiwanese container shipping major Wan Hai Lines is planning to order at least four newbuildings in the second half of this year.
Hsieh Fur-Lung, general manager of Wan Hai Lines, revealed at the company’s annual general meeting that the company is looking to order four boxships of 1,800 teu to 2,800 teu, and is currently in negotiations with a number of yards for the order.
Hsieh said the company is now concerned about the potential negative impact brought by US-China trade war, which could affect the cargo flow in Asia.
“The company is prudent about the market in the second half of this year but we are not pessimistic,” Hsieh said, adding that freight rates haven’t been able to increase as the supply of ships on transpacific routes still exceeds demand despite cargo volumes on various routes being high.
Wan Hai Lines currently operates a fleet of over 70 containerships.