The performance of Wan Hai Lines reached a new high in September, and the profit is expected to exceed NT$10 billion for the first time.
 
Wan Hai announced its financial report. In September this year, the company's revenue reached NT$25.764 billion (approximately 5.907 billion yuan), an annual increase of 264.76% and a monthly increase of 4.46%. Cumulative revenue in the first three quarters was NT$157.3 billion (approximately RMB 36.077 billion), an annual increase of 191.77%.
 
Industry analysts pointed out that based on Wan Hai's net profit margin of 39.56% in the second quarter, the monthly profit in September was approximately NT$10.192 billion (approximately RMB2.337 billion), and the single-month revenue exceeded NT$25 billion. The profit broke a new record of NT$10 billion.
 
Wan Hai has been actively expanding its fleet since last year. As of the first half of the year, 8 second-hand ships acquired last year have been delivered. In addition to the delivery of new ships, Wan Hai now has a total capacity of 426,900 TEU, making it one of the world's top ten shipping companies. In addition, Wan Hai has 44 hand-held orders and an additional capacity of 257,800 TEU.
 
At the end of September, Wan Hai just received a new 2038TEU container ship and put it on the Japan-Vietnam route. Two more ships of the same type are expected to be delivered before the end of the year, which will help solve customer transportation problems and further improve performance. Benefited from the addition of new ships, the opening of US West and East US routes, and the increase in fleet capacity, analysts expect Wan Hai's fourth-quarter profit may be significantly higher than that of its peers.
 
Analysts believe that the third quarter of Southeast Asia has a severe epidemic and the transportation demand is delayed. The fourth quarter was the peak season of the Asian line before the Spring Festival. It can be predicted that the performance of Wan Hai in the fourth quarter will create a high profit of single quarter revenue in 2021.
 
Source: Sarah Yu, XINDE MARINE NEWS

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