Wan Hai Lines orders 20 methanol dual-fuel containerships

In the UK, The Loadstar reports Taiwanese carrier Wan Hai Lines has commissioned up to 20 methanol dual-fuel containerships, costing between $1.68 billion and $2.5 billion, in response to rising demand on the Far East-Middle East and India trades. The orders include twelve 8,000 TEU vessels from Taiwan’s CSBC Corp, with options for an additional four, and four 8,700 TEU ships from South Korea’s HD Hyundai Samho, with deliveries scheduled between 2026 and 2027.

Traditionally focused on intra-Asia routes, Wan Hai expanded into standalone transpacific services during the COVID-19 pandemic, driven by soaring freight rates. These new vessels are set to bolster the carrier’s capacity on the booming Far East-Middle East/India lanes, where Indian companies increasingly source materials from the Far East to avoid high European freight costs.

This investment aligns with Wan Hai’s strategy to incorporate alternative energy sources and larger ships. The carrier’s H1 2024 results underscore its growth, with a 31% revenue increase to $2.02 billion and a nearly quadrupled net profit of $498.14 million, fueled by elevated freight rates due to the Red Sea crisis.

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