Hyundai pens deal with Wan Hai Lines for boxship quintet

 Taiwanese shipping company Wan Hai Lines has placed an order with Hyundai Heavy Industries for five 13,200 TEU container vessels.

Wan Hai did not disclose the value of the deal, however, Hyundai said in a stock exchange filing that the contract was worth KRW 637 billion ($ 563 million).

The new vessels are slated to start delivery in the first quarter of 2023, with the last newbuild set to be copleted by the end of November 2023.

They will be the biggest ones in the company’s fleet in terms of capacity, outstripping the current 11,923 TEU containerships.

“This new shipbuilding contract is the company’s latest fleet renewal plan, so as to ensure that the company’s vessel fleet is able to maintain competitive and support continuous market development. Eventually, the company hopes to deliver better service quality to its customers by having a more efficient fleet,” the shipowner said.

The contract is being revealed shortly after the company’s Board of Directors approved plans to purchase nine close to 13,000 TEU containerships worth up to $ 1.035 billion.

Meanwhile, Wan Hai has welcomed three newbuilds into the fleet, namely Wan Hai 327, Wan Hai 328 and Wan Hai 329. They are the last three vessels in a series of 3,055 TEU containerships built by Japan Marine United Corporation Kure Shipyard. 

They are designed with a deadweight capacity of 37,160 mt on 11.5 m draft and a maximum cruising speed of 21.60 nautical miles. The energy-efficient series is also certified with ‘Smart Ship’ notations.

The intra-Asian carrier has been on an ambitious fleet build-up mission over the past year.

The push is being interpreted as Wan Hai’s attempt of solidifying its position as the largest intra-Asian carrier and bolster its global standing with the aim of becoming the world’s 10th largest container carrier.

Currently, Wan Hai Lines operates a fleet of 74 owned vessels and 57 chartered vessels.