Wan Hai sees 2nd quarter profit on strong transpac, falling oil prices

TAIWAN's Wan Hai Lines says it will return to profit in the second quarter because of rising demand on its US routes and falling bunker prices, reports the Taipei Times.

"Although Wan Hai posted a net loss of NT$0.17 (US$0.0056) per share in the first quarter, the company actually has been returning to the black since March," said Wan Hai vice president Davis Kao.

Wan Hai has added capacity to its US routes to 1,600 TEU a week since the second half of last year as it lowered capacity on Asia-Europe. "The move contributed a lot to the company's sales, providing evidence that it was the correct strategy," he said.