Wan Hai Lines committed to purchasing four 16,000 TEU container vessels worth up to $816 million, doubling down on fleet expansion despite industry uncertainty.
The Taiwanese shipping company placed orders with South Korea’s Samsung Heavy Industries and Hyundai Samho Heavy Industries for two vessels each, according to an April 24 statement. Each ship will cost between $186 million and $204 million, totaling NT$243.25 billion to NT$265.36 billion ($748 million to $816 million) at current exchange rates.
This latest acquisition brings Wan Hai’s orderbook to 34 vessels scheduled for delivery between 2026 and 2030, including 12 mega-ships in the 16,000 TEU class. The company plans to add 380,000 TEU capacity through these purchases.
The aggressive expansion comes as shipping companies navigate market volatility following record profits in 2024. Wan Hai reported NT$47.42 billion ($1.48 billion) in net profit last year, with an impressive earnings per share of NT$16.89.
Industry analysts question the sustainability of large capacity additions as more than 10 mega container carriers are due into service in 2025, potentially creating overcapacity if economic growth slows. However, Wan Hai maintains that long-term shipping demand justifies its investment strategy.
