MOL, Wan Hai team up to target intra-Asia trade

MOL, Wan Hai team up to target intra-Asia trade

Mitsui O.S.K Lines and Wan Hai Lines have joined forces for a service between Japan and Vietnam and India and Pakistan beginning at the end of the month.

The HSX service will deploy seven ships with capacities of 4,250 twenty-foot-equivalent units, with Wan Hai providing two and MOL the remainder.

The rotation will take 49 days and calls at the following ports: Osaka, Kobe, Yokkaichi, Yokohama, Tokyo, Hong Kong, Singapore, Port Klang, Nhava Sheva, Karachi, Pipavav (on weekends), Colombo, Port Klang, Cai Mep and Shekou.

Wan Hai, which had the highest profit margin of the major container lines in 2015, believes India is ready for economic growth, and freight rates for intra-Asia services will continue to rise as the region grows.

In 2015, Wan Hai posted a profit of 3.94 billion Taiwanese dollars ($122 million), which was a year-over-year decrease of 25 percent. Revenue fell 4.6 percent to 63.86 billion Taiwanese dollars compared with 66.97 billion in 2014.

Contact Angela Yu at angela.yu@ihs.com.

A version of this story originally appeared on IHS Fairplay, a sister product of JOC.com within IHS.