Bulletin: Wan Hai's Strong Performance Can Absorb Large New Vessel Spending - S&P Global Ratings’ Credit Research

Bulletin: Wan Hai's Strong Performance Can Absorb Large New Vessel Spending

Bulletin: Wan Hai's Strong Performance Can Absorb Large New Vessel Spending - S&P Global Ratings’ Credit Research
Bulletin: Wan Hai's Strong Performance Can Absorb Large New Vessel Spending
Published Jul 01, 2021
2 pages (1188 words) — Published Jul 01, 2021
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Abstract:

TAIPEI (S&P Global Ratings) July 1, 2021--S&P Global Ratings said today that Wan Hai Lines Ltd.'s strong operating cash flow could accommodate the shipping company's further increase in new vessel acquisitions. We believe the company will retain sufficient financial buffer on the rating (BB+/Stable/--). Wan Hai plans to purchase four vessels with capacity of 13,100 twenty-foot equivalent units (TEU) and 12 with 3,055 TEU. The total amount, based on announcements including the latest on June 28, will be new Taiwan dollar (NT$) 28.0 billion-NT$30.3 billion. We believe the vessel purchases are a response to strong market demand and to meet its expansion to a new U.S. East Coast service line in June this year. Deliveries are scheduled for 2023-2024. These

  
Brief Excerpt:

...July 1, 2021 TAIPEI (S&P Global Ratings) July 1, 2021--S&P Global Ratings said today that Wan Hai Lines Ltd.'s strong operating cash flow could accommodate the shipping company's further increase in new vessel acquisitions. We believe the company will retain sufficient financial buffer on the rating (##+/Stable/--). Wan Hai plans to purchase four vessels with capacity of 13,100 twenty-foot equivalent units (TEU) and 12 with 3,055 TEU. The total amount, based on announcements including the latest on June 28, will be new Taiwan dollar (NT$) 28.0 billion-NT$30.3 billion. We believe the vessel purchases are a response to strong market demand and to meet its expansion to a new U.S. East Coast service line in June this year. Deliveries are scheduled for 2023-2024. These acquisitions represent a significant increase in capacity, given Wan Hai's already aggressive order book. It expects deliveries over 2021-2024 for previous orders of 36 newly built vessels of 2,038-13,000 TEU and 11 secondhand...

  
Report Type:

Bulletin

Ticker
2615@TT
Issuer
Wan Hai Lines Ltd.
GICS
Marine (20303010)
Sector
Global Issuers
Country
Taiwan
Region
Emerging Markets
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Wan Hai's Strong Performance Can Absorb Large New Vessel Spending" Jul 01, 2021. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Wan-Hai-s-Strong-Performance-Can-Absorb-Large-New-Vessel-Spending-2682003>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Wan Hai's Strong Performance Can Absorb Large New Vessel Spending Jul 01, 2021. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Wan-Hai-s-Strong-Performance-Can-Absorb-Large-New-Vessel-Spending-2682003>
  
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