Wan Hai Lines reported consolidated revenue of NT$19.4 billion for August, reflecting a 126.4% annual increase. The company’s cumulative revenue for 2024 reached NT$105.29 billion, up 57.5% year-on-year. Despite a slight 3.4% decline in August revenue compared to July due to freight rate corrections, Wan Hai remains optimistic about the third quarter, driven by traditional holiday stocking demand.
Looking ahead, the company expects demand to rise ahead of China’s National Day in October and plans to adjust ship scheduling to optimize operations. While freight rates on the Asia-U.S. West routes fell by 10-20% in August due to increased capacity from smaller and seasonal ships, Wan Hai anticipates a rebound in rates as global trade volumes increase.
The upcoming Golden Week holiday in China, coupled with potential labor disruptions at U.S. ports, could further impact freight rates and capacity, supporting a positive outlook for Wan Hai’s performance through the end of the year.
