Wan Hai joins box shipping 'arms race', but avoids Chinese yards for newbuilds
Fallout from the US-China tariff war is not stopping the container shipping ‘arms race’, as ...
Wan Hai is paying $53m to buy the 2008-built Cape Magnus, one of seven 2,700 teu ships chartered from Schoeller Holdings for 16-18 months in 2020.
Since then, Wan Hai has set aside $880m to buy second-hand ships and has 17 so far, as well as ordering four 13,000 teu newbuildings from Capital Maritime & Trading.
Chartered at a daily rate of $17,500, Cape Magnus serves Wan Hai’s Asia-US west coast route, for which the Taiwanese liner operator is reportedly charging $20,000 per feu, working ...
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