Wan Hai Lines will order another 32,000TEU in new containers, anticipating more demand growth in 2021.
[s2If is_user_logged_in()]The company said in a filing to the Taiwan Stock Exchange on 3 February 2021 that the containers will cost US$99.65 million, but did not name the manufacturer.
The latest round of orders came less than a month after the Taiwanese liner operator ordered 50,000TEU in containers for US$141.73 million.
Primarily an intra-Asia carrier, Wan Hai will also expand its solo Transpacific service, China Pacific Service 1 (CP1) to four loops to reduce the turnaround time.
From March, the company, which launched CP1 in July 2020 after being lured by soaring freight rates on the trade lane, will split the service into the AA1, AA2, AA3 and AA5 loops.
Currently, the CP1 service loop is Shanghai, Xiamen, Hong Kong, Yantian, Shanghai, Ningbo and Long Beach.
AA1’s loop will be Shanghai, Ningbo, Los Angeles and Shanghai; AA2’s loop will be Kaohsiung, Yantian, Long Beach, Yantian and Kaohsiung; AA3’s loop will be Haiphong, Cai Mep, Hong Kong, Yantian, Xiamen, Long Beach, Shekou and Haiphong, while AA5’s loop will be Kaohsiung, Yantian, Shanghai, Ningbo, Seattle, Oakland and Kaohsiung.
Wan Hai said, “Turnaround times for the current Transpacific service is 35 to 49 days. By dividing the service into four loops, we can shorten the sailing time for cargoes from major Asian ports to the US West Coast, thus improving our service to shippers.”
Wan Hai, now the eleventh largest liner operator, is expanding its fleet with newbuildings and second-hand ship purchases, amid record-high freight rates. The company’s capacity now totals 331,974TEU, including 69 owned ships but this is expected to increase as Wan Hai purchased eight ships recently.
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Martina Li
Asia Correspondent
