Spotlight Stock: Wan Hai's First-Half Profit Nearly Doubles, Share Price Surpasses 90 to Hit 5-Month High

Container shipping company Wan Hai (2615-TW) announced a net profit of NT$11.535 billion in the second quarter, with earnings per share (EPS) at NT$4.11. For the first half of the year, cumulative net profit reached NT$19.206 billion, up 96% year-on-year, with EPS at NT$6.84. The company remains optimistic about the second-half shipping market, stating that 'the supply-demand structure remains relatively healthy,' driving its share price today (14th) above the NT$90 threshold and challenging its previous high since March.

Wan Hai noted that despite rising fuel costs, the global container shipping market maintains a robust supply-demand balance. The Shanghai Containerized Freight Index (SCFI) has recently hovered at high levels, remaining significantly above its beginning-of-year levels. The charter market remains active, with vessel shortages across all ship types.

Moreover, port congestion issues at major global ports have not been fully resolved. Back-end bottlenecks in trucking and logistics are disrupting smooth vessel operations, limiting supply growth.

With U.S. tariff policies now confirmed and supply chains gradually normalizing, Wan Hai stated that the industry is optimistic about fourth-quarter holiday stocking and inventory restocking demand. Market momentum is expected to continue building, providing strong support for both freight rates and cargo volumes.

Wan Hai is strengthening its direct routes from Asia to the U.S. West Coast and from Asia to the East Mediterranean, while upgrading services on routes to India and the West Coast of South America to enhance competitiveness on medium- and long-haul routes. Its new vessel fleet is being delivered progressively.

This year, Wan Hai has already welcomed two 7,000 TEU and three 8,700 TEU newbuildings into service on medium- and long-haul routes. It expects to receive another 8,700 TEU vessel in September and plans to sell three 5,600 TEU vessels in the fourth quarter.

Additionally, Wan Hai will order six more 11,000 TEU vessels, with a total of 42 new vessels scheduled for delivery between 2027 and 2030. This includes ten 6,000 TEU, twelve 8,700 TEU, one 9,200 TEU, seven 11,000 TEU, and twelve 16,000 TEU large vessels. Overall capacity is set to increase by up to 475,000 TEUs starting this year.

Regarding terminal operations, Wan Hai’s leased terminals at Kaohsiung Port’s Fifth Container Terminal (Berths 79–81) began trial operations in February and are expected to be fully operational by year-end. Following the Tokyo Oi Terminal No. 5, Wan Hai has added another key operational hub in Japan, leasing and operating the C9 Container Terminal at Osaka Port starting in September.