Container carrier Wan Hai Lines posted record revenue of $4.9 billion in 2024, from $3.03 million in 2023.
The company (2615.TW), with Evergreen Marine and Yang Ming one of Taiwan’s Big Three liner operators, said net profit also grew to a record $1.44 billion from a loss of $175.5 million in 2023.
Carriers have seen soaring results on vessels on longer voyages being diverted away from the Red Sea and soaking up capacity, pushing up shipping rates.
Operating profit for the world’s 11th-largest ocean line increased to $1.53 billion from $47.5 million, while pretax profit was $1.88 billion, up from $58.4 billion year over year.
Earnings per share totaled 51 cents.
Gross margin was 34.9% and operating margin was 31.2%.
The company operates 110 vessels, with total capacity of 507,000 twenty-foot equivalent units). It has 31 container vessels on order, with total capacity of 331,000 TEUs.
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