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WAN HAI Lines is planning fleet expansion, with a US$1 billion war chest, with $700 million intended for newbuildings, $300 million for second-hand vessel acquisitions, reports London's Loadstar.
The Taiwanese liner operator made the announcement after its 2021 net profit grew 26 per cent year on year, to $3.73 billion.
The company declared investing the profits of the past two years, the carrier would be in a position to meet challenges in the mid- to long-term.
Wan Hai will also issue $2.1 billion of bonds to raise funds, tapping in on low interest rates.
In 2020 it earmarked $360 million to buy second-hand ships, with 12 purchased, and, last November allotted another $200 million, with an additional $320 million the following month.
Since, Wan Hai has bought 24 vessels, the most recent being the 2006-built 5,527-TEU Allegoria from German owner Danz & Tietjens for $109.5 million.
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