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Wan Hai Profit up 158pc to US$170 million, Sales up 12pc, Credits US Recovery  2015-04-07

TAIWAN's Wan Hai Lines posted a 158 per cent year-on-year profit increase to TWD5.32 billion (US$170 million) in 2014, drawn on revenues of TWD67 billion, which increased 12 per cent.

Intra-Asia services contributed to 80 per cent of Wan Hai Lines' total revenue. While eight per cent of it came from US services, including west coast services to North America and South America, another 10 per cent came from its European services.

The carrier said it owed some of its good fortune to the improved performance of the US market.

Wan Hai president Huey-Jiuan Chen said the quantitative easing policy in Europe still needs time to take effect, but in general container shipping market is positive.

Wan Hai operates 72 vessels and aims to reach its target revenue of TWD70 billion for 2015.

(Source: shippingazette)