News / Wan Hai sees profits fall, but eyes more newbuilds

YM Mobility. Photo: VesselFinder

Uncertainties amid the Middle East conflict have not deterred shipping lines and tonnage providers from ordering new containerships.

On Tuesday, Wan Hai Lines commissioned a 9,200 teu pair at Shanghai Waigaoqiao Shipbuilding and four at 6,000 teu at CSSC Huangpu Wenchong Shipbuilding.

The total contract value is $547.3m, and delivery is expected in 2029 to 2030.

Wan Hai announced the newbuilding orders alongside its 2025 financial results that showed net profit down 34% year on year, to TW$31.7bn (US$1bn).

Since Covid saw the Taiwanese regional carrier launch solo transpacific, Asia-South America and Asia-Mediterranean routes, Wan Hai has been relentlessly expanding its fleet, and with the new purchases and sales, Wan Hai’s capacity will be approximately 407,000 teu.

One 7,000 teu vessel, Wan Hai 711, entered service early last month and was assigned to an Asia-Mediterranean service. Five more new vessels will be delivered this year, including one of 7,000 teu and four of 8,700 teu.

Between 2027 and 2030, Wan Hai is expected to receive another 30 newbuilds, including six 6,000 teu vessels, a dozen of 8,700 teu  and a dozen 16,000 teu vessels.

And Eastern Pacific Shipping is stepping up its interest in the 6,000 teu range, booking five ships to be built at China Merchants Jinling Shipyard, for delivery between 2028 and 2029.

The Singapore-based tonnage provider is believed to have exercised options for additional vessels after an initial order in August. The price was not disclosed, but is estimated at $80m each.

Hong Kong-based regional carrier TS Lines is carrying on its drive to increase its owned fleet, booking two 4,300 teu ships at CSSC Huangpu Wenchong at $60m each for delivery in 2028.

Finally, Taiwanese operator Yang Ming announced yesterday it had approved plans to build another six 13,000 teu LNG dual-fuelled ships, possibly for deployment to Asia-South America services. The announcement came with 2025 financial results that showed net profit down 73% from 2024, to TW$17.1bn ($544.5m)

Yang Ming said: “The company is striving to achieve its mid- to long-term goals of a 124-vessel fleet,  with 1.25m teu in operating capacity, and a 3% to 3.5% share of the global container market by 2032. To reach these targets, we’re enhancing fleet competitiveness and optimising service network. “

Expected to become the backbone of Yang Ming’s east-west services, the newbuildings will replace aging units.