Taipei-based Wan Hai Lines is forking out $186.8m for two neo-panamax vessels from fellow Asian carrier Pacific International Lines (PIL).

The 11,923-teu Kota Perwira (built 2018) and Kota Panjang (built 2017) have been acquired by Wan Hai Lines (Singapore) Pte Ltd, a subsidiary of Taiwan-listed Wan Hai, according to a stock exchange announcement.

The vessels are the fifth-and sixth in the series of 12 neo-panamax vessel which PIL ordered in 2015 on the back of Chinese leasing houses. All of the 12 ships were delivered from Yangzijiang Shipbuilding in 2017 and 2018.

Last week, four sisterships in the series were sold to Seaspan for $91.75m each, which was significantly less than the $93.4m price tag paid by Wan Hai.

But the biggest winners could again be Chinese leasing companies that financed the vessels.

TradeWinds reported on Tuesday that ICBC Leasing and Shanghai-based China Construction Bank Financial Leasing are banking the lion's share of the proceeds of the sale of the four vessels to Seaspan.

In order to make the sale, PIL bought out the financing from the two leasing companies for an undisclosed sum, they said.

The ships were valued by ICBC at about $90m each in 2016, according to Alphaliner data.

Familiar vessel

Some of the PIL vessels are operating in a transpacific service that Wan Hai operates with the Singapore-based carrier and Cosco Shipping Lines under a tripartite agreement.

That includes the Kota Perwira, which operates as the Wan Hai 805 between Asia and the West Coast of the US together with four sisterships operated by PIL and Wan Hai.

Kota Perwira and Kota Panjang will be the largest ships ever owned by the Taiwanese operator, which currently owns nothing larger than 5,600-teu.

Most of Wan Hai's ships on order are in the 2,000-teu to 3,000-teu segment.

PIL's recent sales have come as the company plans to withdraw from the transpacific service. Its place is expected to be filled by Wan Hai and Cosco.