Wan Hai to Invest Us $253 Million in Refurbishing Kaohsiung Terminal

Taiwanese shipping operator, Wan Hai lines ltd. plans to spend nearly US $253 million on refurbishing the No.5 terminal in the Port of Kaohsiung. The number 5 terminal contains berths No.79 to No. 81, spanning a total length of 870 meters. Wan Hai has leased the terminal for 20 years, after signing the contract with Taiwan International Ports Corporation (TIPC) on 12th January, the overall lease payments for these 20 years is estimated to be US $ 293 million.

The number 5 terminal in Kaohsiung was previously owned by Wan Hai’s rival, the Evergreen Marine Corporation. Evergreen plans to shift its operations to the newly built No.7 terminal this year. Wan Hai plans to extensively renovate the terminal left by Evergreen. These renovations involve the berths, the container yard in the terminal, and the installation of a new bridge and gantry cranes to streamline the loading and unloading process.

This terminal boasts depths of up to 14 to 15 meters, Wan Hai's plans involve leveraging this to bolster its ocean-going services. Wan Hai has launched solo services to the US east and west coast to capitalize on the meteoric rise of freight rates in the last two years. To this end they have ordered a fleet of 13000 TEU ships from Hyundai heavy industries and Samsung heavy industries, this new terminal will prove to be an indispensable asset to the company in carrying out the shipments.

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