Wan Hai sets aside $320m for acquisitions and seals Yokohama terminal deal
Wan Hai Lines has set out to expand further with a new war chest and a lease deal for a terminal in Yokohama, Japan’s container port, crowned as the world’s most efficient box facility in this year’s study by the World Bank and data firm IHS Markit.
The Taiwanese containerline has earmarked $320m more for secondhand ship acquisitions, adding to last month’s war chest of $200m, with three boxships already purchased and $360m from last year, which helped expand the fleet with 12 ships.
In addition, Wan Hai announced it had signed a contract with Yokohama-Kawasaki International Port Corporation (YKIP) for a 10-year lease of the Honmoku D4 terminal in Yokohama. The annual lease has been set at around JPY5.6bn ($49.5m), but the takeover date has not been revealed. The Honmoku D4 Terminal, currently operated by CMA CGM, has a total annual operating capacity of 400,000 teu and contributes to about 15% of Yokohama’s port throughput.
According to data from Alphaliner, Wan Hai is currently the world’s 10th largest liner with a 417,421 teu capacity. It operates a fleet of 148 ships, of which 87 are owned.
