Taiwanese shipping company Wan Hai Lines reported third-quarter net income of NT$11.64 billion ($375 million), a tenfold increase from the previous quarter, driven by declining fuel prices and foreign exchange gains.
Earnings per share reached NT$4.15, up from NT$0.38 in the second quarter, the company said Monday. However, year-on-year profit fell 37% as container rates normalize from the elevated levels seen in 2024 when Red Sea disruptions tightened capacity.
For the first nine months of 2025, Wan Hai posted revenue of NT$106.97 billion, down 11% from a year earlier, with operating profit declining 28% to NT$26.89 billion. The carrier operates routes across Asia, the Middle East and the Americas.
The company approved new container purchases worth more than NT$3.5 billion ($113 million) for 2025, bringing the year’s total procurement to 48,000 units. Management cited strong demand as Asia enters its traditional peak season.
Recent trade developments between Washington and Beijing should support shipping demand, Wan Hai said. The US reduction of China-related fentanyl tariffs to 10% and the mutual suspension of vessel port fees remove cost pressures for carriers and help stabilize rates.
Wan Hai has ordered 30 vessels for delivery between 2026 and 2030, including twelve 16,000-TEU ships. The company said three 13,000-TEU vessels entered service this year, with 41 ships now equipped with shore power connections to meet environmental standards.
Container throughput continues growing at Shanghai and Singapore, the company noted, while charter rates remain elevated despite active newbuild deliveries.
