Wanhai Shipping orders 8 methanol dual-fuel reserved container ships
Recently, Wanhai Shipping announced two new shipbuilding orders, a total of eight 16000TEU methanol dual-fuel reserved container ships, with a total value of 1.496 billion to 1.632 billion US dollars. The new ships will also be the largest container carrying vessels in Wanhai's fleet.
The other four new ships were built by SAMSUNG HEAVY INDUSTRIES CO., LTD. at a cost of $188 million to $204 million each, with a total deal value of $751 million to $816 million, including the amount of ship upgrade equipment.
It is reported that this is the second batch of new shipbuilding orders announced by Wan Hai Shipping in 2024. Together with the eight new ships ordered this time, Wanhai Shipping has announced 28 new ship orders in the last two months.
On August 12, 2024, Wan HNA announced two new shipbuilding orders for a total of 20 container ships, including 12+4 8,000TEU methanol dual-fuel powered container ships and four 8,700TEU methanol dual-fuel powered container ships, with a total value of up to $2.506 billion. Full delivery of the new ships is expected between the third quarter of 2027 and the third quarter of 2030.
At the time, Wanhai Shipping said that the main consideration for ordering new vessels was the long-term development of the operation and the replacement of the old fleet.
It is worth noting that according to Alphaliner's statistics, as of October 1, 2024, there are no 7500-9999TEU, 15,200-17999TEU ships in the fleet of Wan Hai Shipping, and new ship orders can make up for the gaps in these types of ships.
For the two batches of new shipbuilding orders of Wanhai Shipping, Zheng Jingwen, deputy director of the International Shipping Research Institute of Shanghai International Shipping Research Center, said in an interview with the China Shipping Weekly reporter that Wanhai Shipping placed intensive orders for shipbuilding, behind various considerations.
She believes that the Red Sea crisis has always had an uncertain impact on the development of the shipping market, making ships have to sail around the Cape of Good Hope, consuming part of the capacity. After experiencing the "super prosperity" during the epidemic, liner companies have sufficient funds to invest in the new shipbuilding market and consolidate capacity reserves.
For the new capacity, Zheng Jingwen believes that the current Wan Hai shipping mainly operates routes within the Asian region, and this large-scale order of new ships does not rule out the intention to expand the fleet size of European and American routes.
She further said that Wanhai Shipping's business strategy is conservative, and compared with the current 24,000 TEU super-large ships, its newly ordered 16,000 TEU ships are not large, but the operation is flexible, and can be deployed according to the capacity needs of different routes.
In addition, the United States line is a high-income route for Wanhai Shipping, based on the high freight rates in the current market, expanding capacity investment is a reasonable choice. Wanhai Shipping holds 20 8000-8700TEU vessels in the order, which is expected to be flexibly put into operation on the US line according to demand.
At the same time, the global shipping industry is facing the pressure of decarbonization, and the two batches of new shipbuilding orders of Wanhai Shipping are reserved for methanol dual-fuel powered container ships and methanol dual-fuel container ships. Zheng Jingwen said that this means that it has made sufficient preparations in terms of green decarbonization.
According to Alphaliner's latest capacity list, as of October 29, 2024, Wanhai Shipping had an operating capacity of 123 ships and 530,194TEU, ranking 11th in the world. In addition, with the latest order of eight ships, its ordered capacity reached 30 ships, 308,339TEU, accounting for 58.2% of the operating capacity.
The other four new ships were built by SAMSUNG HEAVY INDUSTRIES CO., LTD. at a cost of $188 million to $204 million each, with a total deal value of $751 million to $816 million, including the amount of ship upgrade equipment.
It is reported that this is the second batch of new shipbuilding orders announced by Wan Hai Shipping in 2024. Together with the eight new ships ordered this time, Wanhai Shipping has announced 28 new ship orders in the last two months.
On August 12, 2024, Wan HNA announced two new shipbuilding orders for a total of 20 container ships, including 12+4 8,000TEU methanol dual-fuel powered container ships and four 8,700TEU methanol dual-fuel powered container ships, with a total value of up to $2.506 billion. Full delivery of the new ships is expected between the third quarter of 2027 and the third quarter of 2030.
At the time, Wanhai Shipping said that the main consideration for ordering new vessels was the long-term development of the operation and the replacement of the old fleet.
It is worth noting that according to Alphaliner's statistics, as of October 1, 2024, there are no 7500-9999TEU, 15,200-17999TEU ships in the fleet of Wan Hai Shipping, and new ship orders can make up for the gaps in these types of ships.
For the two batches of new shipbuilding orders of Wanhai Shipping, Zheng Jingwen, deputy director of the International Shipping Research Institute of Shanghai International Shipping Research Center, said in an interview with the China Shipping Weekly reporter that Wanhai Shipping placed intensive orders for shipbuilding, behind various considerations.
She believes that the Red Sea crisis has always had an uncertain impact on the development of the shipping market, making ships have to sail around the Cape of Good Hope, consuming part of the capacity. After experiencing the "super prosperity" during the epidemic, liner companies have sufficient funds to invest in the new shipbuilding market and consolidate capacity reserves.
For the new capacity, Zheng Jingwen believes that the current Wan Hai shipping mainly operates routes within the Asian region, and this large-scale order of new ships does not rule out the intention to expand the fleet size of European and American routes.
She further said that Wanhai Shipping's business strategy is conservative, and compared with the current 24,000 TEU super-large ships, its newly ordered 16,000 TEU ships are not large, but the operation is flexible, and can be deployed according to the capacity needs of different routes.
In addition, the United States line is a high-income route for Wanhai Shipping, based on the high freight rates in the current market, expanding capacity investment is a reasonable choice. Wanhai Shipping holds 20 8000-8700TEU vessels in the order, which is expected to be flexibly put into operation on the US line according to demand.
At the same time, the global shipping industry is facing the pressure of decarbonization, and the two batches of new shipbuilding orders of Wanhai Shipping are reserved for methanol dual-fuel powered container ships and methanol dual-fuel container ships. Zheng Jingwen said that this means that it has made sufficient preparations in terms of green decarbonization.
According to Alphaliner's latest capacity list, as of October 29, 2024, Wanhai Shipping had an operating capacity of 123 ships and 530,194TEU, ranking 11th in the world. In addition, with the latest order of eight ships, its ordered capacity reached 30 ships, 308,339TEU, accounting for 58.2% of the operating capacity.
