Taiwanese carrier Wan Hai Lines has purchased its ninth and tenth ships since earmarking US$360 million to buy second-hand vessels.
[s2If is_user_logged_in()]The intra-Asia specialist, said in a filing to the Taiwan Stock Exchange on 9 February that it had purchased the 2009-built 4,255TEU Harrier Hunter from the Belgian ship owner CMB NV and the 2004-built 6,030TEU My Ny from MYNY Maltese Co Ltd. The latter entity is understood to be a ship-owning entity of Greek tonnage provider Technomar Shipping.
Wan Hai paid US$21 million for Harrier Hunter, which was previously chartered to compatriot liner operator TS Lines. The purchase price for My Ny is US$25 million, netting a US$14 million profit for Technomar, which bought the vessel for US$11 million in January 2018.
Between December 2020 and February 2021, Wan Hai has announced the purchases of Granville Bridge, MOL Pace, Partner Star, Teal Hunter, Hyundai New York, Anton Schulte, Adrian Schulte and Astrid Schulte.
In 2020, Wan Hai bought 10 second-hand ships, including two 11,923TEU vessels from Pacific International Lines, spending in excess of US$420 million. The liner operator still has around US$100 million remaining from the budget disclosed on 7 December.
Wan Hai’s Singapore subsidiary, Wan Hai Lines (Singapore), handled the procurement, due to tax exemptions offered to major shipping enterprises in Singapore.
Wan Hai has also commissioned a dozen 3,013TEU newbuildings from Japan Marine United Corporation and Nihon Shipyard.
Wan Hai has also bought containers, purchasing 30,000TEU of containers from CIMC for on 9 February, following an earlier purchase of over 80,000TEU of containers.
Amid the overheated freight market, Wan Hai achieved a net profit of TW$1.81 billion (US$62.37 million) in the third quarter of 2020, up 176% from the year-ago. Cumulatively, the intra-Asia specialist had net profits of TW$3.59 billion (US$123.71 million), up 48% year-on-year.
Martina Li
Asia Correspondent
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