Taiwan’s shipping company Wan Hai Lines has decided to expand its fleet as it ordered eight new containerships from a Japanese shipbuilder, according to the company’s stock exchange filing.
The eight vessels, which will feature 1,900 TEUs, are worth between USD 212 million and USD 326 million.
Wan Hai said that the vessels will be built by shipbuilder Naikai Zosen Corp.
The company did not disclose the expected delivery date.
In April, the shipping firm sealed a deal with Japan’s Kawasaki Kisen Kaisha (“K”Line) and Singapore’s Pacific International Lines (PIL) to jointly operate a transpacific service from Vietnam and South PRC to the U. S. Pacific South West with seven ships of about 8,000 TEUs.
Furthermore, Wan Hai entered into a space swap arrangement with “K”Line on CALCO-B (CCB) and CALCO-E (CCE) service, and COSCO Container Lines on CEN and MD1 service.
The move follows Drewry’s predictions that carriers who have been left out of major alliances will have to find new partners or opt for merging to remain competitive on the market.