WAN Hai Lines has ordered five 13,000 teu containerships from Samsung Heavy Industries.

The newbuildings are energy efficient and meet the latest environmental regulations.

They carry ‘Smart Ship’ certification and will enable Wan Hai to provide better-quality service to customers as it deploys a more energy-efficient fleet of vessels. It will start taking delivery of the new vessels in 2024.

The Taipei-listed company, which operates a fleet of 146 containerships, said the vessels’ acquisition aims to ensure its fleet will maintain its competitiveness and support continuous market development.  

The acquisition would cost between $659m and $700m, including fees for potential equipment upgrades, it said in a stock exchange filing.

The deal follows orders for 13 newbuildings of 13,000-teu class that Wan Hai already placed in South Korea in the past year.

Wan Hai recently approved a proposal to issue up to $T60bn ($2.1bn) worth of non-guaranteed bonds and shares.

Apart from funding vessel acquisitions worth $1bn, the proceeds of the fundraising will also be used to repay debts and enhance the company’s financial position.  

The company has approved plans to acquire more secondhand tonnage worth up to $320m. It also has its eye on $700m worth of newbuilding vessels.

Since 2020, it has purchased 20 secondhand vessels, with a combined capacity of more than 86,000 teu. Of the total number of vessels, 13 ships have been delivered and the rest are due for delivery by the third quarter of this year.

Its current orderbook comprises 41 ships, with a combined estimated 250,000 teu, accounting for 60% of its existing fleet. Of the total, 12 vessels are expected to be delivered later this year and 29 between 2023 and 2024.