Wan Hai Lines Ltd. - S&P Global Ratings’ Credit Research

Wan Hai Lines Ltd.

Wan Hai Lines Ltd. - S&P Global Ratings’ Credit Research
Wan Hai Lines Ltd.
Published May 22, 2013
3458 words — Published May 22, 2013
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

Highly cyclical nature of the container shipping industry. Volatile profitability due to volatile fuel costs and frequent oversupply. Competition risk from its larger peers due to its limited operating scale. Fair market position supported by its leading share in the niche Intra-Asia container shipping market. Good operational efficiency. Significant volatility in the company's financial metrics. Intermediate debt leverage. Relatively conservative financial policy compared with those of its peers. Strong liquidity. The stable outlook reflects our view that a mild increase in freight rates and Wan Hai's leading market share in the relatively stable intra-Asia market will help maintain its leverage and cash flow protection measures at a level consistent with the current rating over the next one to two years.

  
Brief Excerpt:

RESEARCH Wan Hai Lines Ltd. Publication date: 22-May-2013 Primary Credit Analyst: Raymond Hsu, CFA, Taipei (8862) 8722-5827; raymond.hsu@taiwanratings.com.tw Secondary Contact: David L Hsu, Taipei (8862) 8722-5828; david.hsu@taiwanratings.com.tw...

  
Report Type:

Full Report

Ticker
2615@TT
Issuer
Wan Hai Lines Ltd.
GICS
Marine (20303010)
Sector
Global Issuers, Structured Finance
Country
Taiwan
Region
Emerging Markets
Format:
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Wan Hai Lines Ltd. – 2014/05/14 – US$ 500.00

Summary: Wan Hai Lines Ltd. – 2014/05/14 – US$ 225.00

Wan Hai Lines Ltd. – 2015/04/28 – US$ 500.00

Summary: Wan Hai Lines Ltd. – 2013/05/22 – US$ 225.00

Summary: Wan Hai Lines Ltd. – 2012/11/29 – US$ 225.00

Wan Hai Lines Ltd. – 2012/05/31 – US$ 500.00

Summary: Wan Hai Lines Ltd. – 2012/05/31 – US$ 225.00

Summary: Wan Hai Lines Ltd. – 2012/02/15 – US$ 225.00

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Wan Hai Lines Ltd." May 22, 2013. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Wan-Hai-Lines-Ltd-1135386>
  
APA:
S&P Global Ratings’ Credit Research. (). Wan Hai Lines Ltd. May 22, 2013. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Wan-Hai-Lines-Ltd-1135386>
  
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