Wan Hai Lines likely to return to profit in second quarter

Taipei: Wan Hai Lines, Taiwan’s third-largest container shipping company by fleet size, yesterday said it would swing into profit in the second quarter on the back of strong demand on its US routes and falling bunker fuel prices, Taipei Times reported.

“Although Wan Hai posted a net loss of NT$0.17 per share in the first quarter, the company actually has been returning to the black since March,” Wan Hai vice president Davis Kao said

Wan Hai has added capacity to its US routes to 1,600 teu a week since the second half of last year as it lowered capacity on its routes to Europe, Kao said.

“The move contributed a lot to the company’s sales, providing evidence that it was the correct strategy,” Kao said.  [28/06/12]

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