Taiwan’s Wan Hai Lines is pushing forward with an array of newbuilding projects.
The liner company is in discussions with shipyards in South Korea for a series of 15,000-teu newbuildings to follow on from a $2bn deal disclosed to investors this week.
Multiple shipbuilding sources said HD Hyundai Heavy Industries and Samsung Heavy Industries are competing for Wan Hai’s large container ships.
The number of 15,000-teu newbuildings the liner wants to order is said to be between four and 10 ships. They will be dual-propulsion vessels.
TradeWinds is told that Wan Hai has not decided on the fuel type.
Shipbuilding brokers suggested the cost of LNG dual-fuelled boxship newbuildings would be in excess of $220m while a methanol dual-fuelled vessel would cost at least $200m.
A Wan Hai official said she had no comment on the 15,000-teu newbuildings.
Wan Hai this week confirmed to investors it has placed 20 neo-panamax boxships at CSBC Corp and Hyundai Samho Heavy industries.
The move marks its first dual-propulsion newbuildings, with methanol the fuel of choice.
Wan Hai told TradeWinds the new ships will be used as the replacement for its existing ageing fleet and help the company achieve its development goals.
“They are our first alternative-fuel ships and mark a significant milestone in our journey towards a greener maritime industry,” Wan Hai said.
The company’s fuel decision has surprised some shipbuilding observers as other major shipowners, most notably pioneer AP Moller-Maersk, are turning to LNG and other options.
“Methanol has lower carbon emissions when used as fuel — less than conventional fuel oil and LNG. It aligns with Wan Hai’s ESG target, supporting our long-term goal of decarbonisation,” the company said.
Wan Hai has picked two shipyards — domestic shipbuilder CSBC Corp and Hyundai Samho — to build the 20 newbuildings.
CSBC has secured the bulk of the order, with 12 firm vessels plus an option for an additional four. Hyundai Samho is contracted to build four newbuildings.
The container ships at Hyundai Samho are 8,700 teu, while the series at CSBC are 8,000 teu.
The cost of CSBC’s boxships is about 5% lower, with Wan Hai revealing they are priced between $102.5m and $124m each. The slightly larger ships at Hyundai Samho cost between $113.5m and $130.41m per vessel.
Wan Hai added that the cost of the newbuildings includes upgrades to the equipment on the vessels.
Sources said Hyundai Samho is slated to deliver the quartet in 2026 and CSBC is scheduled to deliver the firm 12 ships between 2026 and 2027.
One shipbuilding player said there is a big price gap between LNG and methanol fuel systems as the latter is less costly and easier for shipyards and seafarers to handle and operate.
On Monday, Wan Hai announced its second-quarter results. It logged an operating and net profit of TWD 13.1bn and TWD 16.2bn, respectively, compared with losses of TWD 2.4bn and TWD 4.4bn in the first six months of last year.
