With a good market prospect, Wanhai Shipping in Taiwan, China, has launched the expansion mode of heavy money ship booking again. Since last year, this small shipowner, which started with Asian feeder shipping, has successively built 34 medium and large container ships in four shipyards from China and South Korea, launching a charge towards the top ten fleets in the world.
On April 24th, Wanhai Shipping announced that its subsidiary Wanhai Shipping (Singapore) has increased its order for four 16000 TEU methanol-ready container ships, to be built by South Korea's HD Hyundai Samho Heavy Industries(HSHI) and Samsung Heavy Industries respectively. The total transaction amount is approximately 748 to 816 billion US dollars (approximately 5.392 billion to 5.946 billion yuan).
Among them, the two ships built by HSHI have a total cost of 372.98 to 48 billion US dollars, with an average cost of approximately 186.49 to 204 million US dollars per ship; Samsung Heavy Industries' two ships have a total value of 375.26 to 480 million US dollars, with an average value of approximately 187.63 to 204 million US dollars per ship. The above prices include the amount for upgrading the equipment of the vessel.
According to the announcement released by HD Korea Shipbuilding Marine, the parent company of HSHI, on April 25th, the unit price of the two new ships is about 195 million US dollars, and it is planned to be delivered in the first half of 2028.
As a reference, Clarkson's data shows that the current price for a new 15000/16500 TEU traditional fuel container ship is approximately $173.5 million, an increase of 2% compared to $170 million in the same period of last year; The new shipbuilding price of methanol dual fuel ships is about 194 million US dollars, an increase of 1.6% compared to 191 million US dollars in the same period of last year.
In October last year, Wanhai Shipping had already ordered four 16000 TEU methanol-reserved container ships from each of the two shipyards mentioned above. This is the largest ship in Wanhai Shipping's fleet, surpassing the eighteen 13100 TEU class ships also ordered from HD Hyundai and Samsung Heavy Industries three years ago. With the addition of the latest 4 vessels, the number of 16000 TEU ships operated by Wanhai Shipping has increased to 12.
Industry insiders speculate that 12 16000 TEUs are the most suitable number and type of ships for European routes, and the addition of new ships may be a preparation for opening European routes. The latest order not only accelerates the fleet replacement process, but also sends a signal to the market that Wanhai Shipping still has a positive outlook on long-term demand.
Wanhai Shipping stated that, with the addition of the latest 4 ships, the company expects to receive a total of 34 newly built container ships between 2026 and 2030, including 2 7000TEUs, 20 8700TEUs, and 12 16000TEUs, with a future capacity increase of 380000 TEUs.
It is understood that Wanhai Shipping, together with Evergreen Marine Shipping and Yangming Shipping, are listed as the three giants of container transportation in Taiwan. Unlike the other two, Wanhai Airlines mainly operates on routes within the Asian region, but has also been gradually opening up long-distance routes in recent years.
According to Alphaliner's data, the current Wanhai Shipping fleet operates 112 ships with a total of 520000 TEUs, including 110 self-owned ships and 2 leased ships, ranking 11th in the world with a market share of 1.6%. Based on current data, after the delivery of all 34 380000 TEU new ships under construction by Wanhai Shipping, its fleet size is about to surpass Yangming Shipping, which currently ranks tenth, and successfully enter the top ten. The company will also become the second largest shipping company in Taiwan after Evergreen Marine Shipping.
Wanhai Shipping returned to the container ship shipbuilding market last year and signed contracts with HSHI to build 4 8700 TEU methanol dual fuel container ships and 4 16000 TEU methanol reserve ships. In addition, it also signed a contract with Samsung Heavy Industries to build four 16000 TEU container ships. At the beginning of this year, Wanhai Shipping officially signed a large order of 12+4 8700 TEU container ships with Wanhai Shipping, of which 4 alternative orders are expected to be officially confirmed and effective in July.
It is worth mentioning that in addition to the 10 orders from HSHI, 6 from Samsung Heavy Industries, and 16 orders from Taiwan Shipbuilding, Wanhai Shipping also acquired 2 7000 TEU container ships for resale from China United Lines Ltd. in June last year. Currently, these two ships are being built by Waigaoqiao Shipbuilding, with hull numbers H1353 and H1354 respectively.
It is reported that China United Lines ordered these two 7000 TEU container ships from Waigaoqiao Shipbuilding in February 2022, with a total price of approximately 165 million US dollars at that time. When Wanhai Shipping acquired these two ships last year, the contract value was as high as 176 million to 188 million US dollars. Both ships will be delivered in 2026.
This year, Wanhai Shipping is expected to deliver three 13000 TEU newly-built container ships for operation, and plans to continue phasing out old ships, terminating leases at high prices, enhancing competitiveness and optimizing ship operation efficiency, and responding to the shipping industry's ESG energy conservation and emission reduction responsibilities.
In 2024, Wanhai Shipping's performance saw significant growth, with consolidated revenue of NT $161.799 billion (approximately RMB 36.212 billion), a year-on-year increase of 61.44%; After tax net profit attributable to the parent company was NT $47.409 billion (approximately RMB 10.61 billion), a year-on-year increase of 717%. In the first quarter of this year, the company's revenue also reached NT $37.09 billion (approximately RMB 8.301 billion), a year-on-year increase of 34.3%.